I've lived in London since 2003. When I first came here, I was making £22k pa. I am making quite a bit more now after working for 12 years, but before my last business took off (in 2010) I was living just fine on about £1500/m after tax for a year and a half, which works out as about £28k/y before tax, which is not a particularly high wage in London. Yes, I wasn't living in luxury, but I wasn't living in poverty either.
I went to see a real estate agent for a crappy 1 bedroom place in Kentish Town, where there is no kitchen and living room and denied contract because I don't earn more than £45k. I wouldn't praise quality of life you can get in London for a £28k/y salary.
