Royal Bank of Scotland research found that the street, which is located on the upper south side of Calton Hill, is home to houses averaging a price of £1.68 million. 

Ann Street in Stockbridge has taken second place in the listing, with houses averaging £1.59m, and Danube Street, just around the corner, is third at £1.41m.

Edinburgh’s Wester Coates Gardens, where houses cost £1.33m on average, was fourth and Hope Terrace in south Edinburgh, at £1.28m, came in fifth place.

Just two of the 10 most expensive streets are located outside of Edinburgh. Homes at The Scores in St Andrews cost an average of £1,280,000, and properties at Glasgow’s Earls Gate average at £1,171,000.

The research this year had two new entries in the country’s top 25 list – both by the coast, The Herald reports.

In 23rd place is Hill Road in Gullane, which costs an average of £1.08m, and in 25th place is King’s Cairn, North Berwick, where a coastal property averages at £1.07m.

Graham Blair, director at Royal Bank of Scotland, said: “While Edinburgh continues to attract the highest house prices in Scotland, the entry of two coastal roads outside the city is indicative of the housing market over the past 18 months.

“Priorities have changed – homes that offer more space are more valuable to buyers than homes in prime commuting locations. Therefore, those with deeper pockets are starting to look further afield for their forever home.”