As financial turmoil occupies the thoughts of the great and the good at Holyrood, a couple of miles away the residents of Dick Place in Edinburgh appear to be weathering the economic storm better than most.

The exclusive address in the Grange area of the city has been revealed as the most expensive street in Scotland, where the average property will set you back at least £1.5 million.

Despite the bottom falling out of the housing market during the past two years, prices in the upmarket area in the south side of the city have continued to climb and it is now home to the most sought-after residences in the country.

Already the haunt of the mega-rich – both Harry Potter author JK Rowling and disgraced former RBS chief executive Sir Fred Goodwin owned properties nearby – Dick Place has displaced Edinburgh's Belmont Drive, which occupied top spot last year in research carried out by the Bank of Scotland.

The latest figures, released today, show the capital remains the country's most desirable place to live, with 13 of Scotland's 20 most expensive streets found within its environs.

Other exclusive addresses are dotted around the outskirts of Glasgow and Aberdeen, while Queen's Crescent, in the Perthshire town of Auchterarder, also makes the list.

But while other population centres can boast their own exclusive streets, it should come as no surprise that upmarket homes in the capital are the most sought-after, says Nitesh Patel, economist at the Bank of Scotland.

He said: "Scotland's most expensive residential streets are concentrated around the three leading cities of Edinburgh, Glasgow and Aberdeen.

"The majority are located in the capital around the New Town and the West End."

The survey also confirms oil-rich Aberdeen's apparent resilience in the face of the housing market downturn.

While property prices continue to rise in the north-east despite the gloom being seen elsewhere, the city also contains the second and third most expensive streets in Scotland: Rubislaw Den South and Rubislaw Den North, where the average home costs £1,430,000 and £1,190,000 respectively.

Others in the top five are Ann Street in Edinburgh, where the Bank of Scotland's housing market specialists say the average property changes hands for £1,188,000, and Queen's Crescent, where the average home is worth £1,013,000.

Despite its reputation as Scotland's industrial heartland and the country's largest city, Glasgow has no addresses in the list of the most expensive streets, although there are two not far from the city limits.

The expensive streets close to the city are Burnside Road, in Giffnock, where the average house costs £974,000, and Bowmore Crescent, in Thorntonhall, South Lanarkshire, where the average property is worth £908,000. Both areas are to the south of the city.

Other expensive addresses include Kinellan Road and Spylaw Bank Road in Edinburgh, where homes are said to be worth £992,000 and £984,000 respectively.

Seven of the capital's priciest streets are in the EH3 and EH4 postal districts, including the New Town area and the West End, which contains the financial district.

The house price data in the report is compiled by the Registers of Scotland and is based on all post codes in Scotland.

Bank of Scotland compiled its lists using the data, and looked only at streets where five or more homes had been sold since 2006.

However, many of the country's most expensive properties stand on their own or are situated in smaller enclaves, meaning they are ineligible for these tables.