Scotland's richest streets have been named, following a 'record-breaking' year in plush property sales.
According to property agents Savills, more properties than ever were sold for over a million. An East Lothian castle nabbed the top stop for most expensive sale ever in Scotland, with Seton Castle selling for a cool £8m.
Edinburgh led in terms of number of sales, with a record 287 sales over a million according to the Scottish Daily Express. Here, the majority of sales took place in the leafy suburbs of Grange, Morningside and Merchiston, attracting buyers seeking large family homes.
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The most pricey streets were Craiglea Drive and Nile Grove which both saw five properties fetch over the million mark. Following a slight dip in 2021, Edinburgh’s New Town, led by Great King Street, made a roaring comeback with multiple sales, reflecting the desire to be close to local services.
Glasgow also set a new Savills record with 31 transactions last year above £1m, led by the West End, with the Park area also seeing robust performance. Glasgow's suburban market remained level last year, including in areas with sought-after schooling, such as Bearsden and Giffnock, and also in villages such as Bothwell and Thorntonhall in Lanarkshire proving popular among the wealthy.
Meanwhile, Scotland’s smaller towns and villages still remain popular among aspiring buyers seeking a lifestyle change and more space, underpinned by flexible working patterns. Leading million-pound locations around Edinburgh included Gullane, North Berwick and Longniddry in East Lothian and Linlithgow in West Lothian.
St Andrews also saw a record with 16 transactions above £1m, including new build sales at Hamilton Grand, and family homes, with Hepburn Gardens among the leading thoroughfares. Elsewhere, villages surrounding Perth and also Killearn in Stirlingshire and along the Ayrshire coast saw a steady top-end market.
While million-pound activity in Scotland’s rural areas did not witness the elevated levels seen in 2021, country house sales in Highland and Argyll saw record numbers. Whereas recorded sales above £1m across the North East were limited, Aberdeen's sought-after AB15 postcode and Kincardineshire to the south witnessed the most transactions at that level.
Faisal Choudhry, Savills Head Residential Research in Scotland said: "Looking ahead, despite increased price sensitivity, sales activity in 2023 so far has been above pre-pandemic levels and going forward will remain underpinned by the value gap, quality of life on offer and the ongoing shortage of well-presented homes in the most sought-after locations."
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