Truro is the least affordable city in the South West and the third most expensive in the UK to own a home in after basic bills and mortgage.  

According to UK-based data collection experts SmartSurvey, median house prices in Truro are earmarked at £345,000 and monthly earnings average at £1,963.  

After paying the mortgage rate and basic bills, two average-earning homeowners would have just under £1,400 to spare for other expenses every month. In contrast, people in Plymouth enjoy the best work-life balance of all South West city dwellers. While salaries are lower, Plymouth has the most affordable homes (£240,000), lowest bills (£330.49) and the highest disposable incomes in the region.  

Average homeowners living and working in Plymouth can pay their monthly utilities and mortgage and still have £2,367.86 every month to cover any other household costs – just under the UK average of £2,440. 

The study evaluates and compares median property prices and median PAYE earnings, as well as gas, electricity, water and council tax bills in 73 cities across England, Scotland, Wales and Northern Ireland. 

The mortgage rates are calculated equally, based on a 10 per cent deposit and a fixed 5% interest rate over 25 years. 

The top national top five were cathedral cities, with St Davids in first place followed by Chichester, Truro, Canterbury and Winchester.  Property prices and bills are generally high while incomes lag far behind, making them unrealistic for most average earners wanting a comfortable life.  

Only in Truro were single median earnings higher than mortgage rates, but even this would leave sole homeowners with just £147 per month to cover basic bills and all other necessities.