A STREET in Newcastle has topped the list of the most expensive addresses in the North East for the second year running.

Graham Park Road in Gosforth has an average house price of £1.2m, according to information compiled by Lloyds TSB based on properties sold between 2007 and 2011.

Half of the 10 most pricey streets in the North East are in Newcastle, with most of the top prices in the desirable NE3 postcodes of Gosforth.

Graham Park Road, just off the Great North Road and close to Gosforth High Street, is the most expensive with an average price of £1,228,000, followed by Oakfield Road, also in Gosforth, at £896,000.

Adderstone Crescent in Jesmond racks up average house prices of £714,000, while Greystoke Park and Lumley Way, both in Gosforth, have averages of £630,000 and £629,000 respectively.

Outside Newcastle, the most expensive streets were found in Darras Hall in Northumberland. Most pricey was Darras Road, at £750,000, the third-most expensive street in the region.

But the figure – based on the Land Registry database of house sales – represents a fall in value from previous years. Darras Road’s average house prices stood at £793,000 in last year’s figures and £830,750 the year before.

Nearby Western Way, which joined Graham Park Road in the millionaire’s club last year with average prices of £1,141,000, did not even feature on this year’s list.

County Durham’s only entry, Westhouse Avenue in Durham City, saw prices rise to £669,000 from £630,000 last year, coming in fifth place on the region’s top 10.