Is it also a matter of the devil you know ?
I'm sure there's generally better riding up there (come to think of it, I've ridden up there m'self), one thing London has in it's favour is you can get over to Wales/west country etc (assuming you want to). The Chilterns/N downs are nearby - it's not like living in Essex 
I've lived down here since '88 and can't see us moving - we live about 10 mins or so drive from Cobham (Walton-On-Thames), before that we were in Surbiton (a better choice than Kingston IMO - later last train, faster train service, slightly cheaper housing - and less traffic of a weekend..and still in the travelcard zones and on the night bus route).
Given the choice I'd probably live in the surrey hills ie between Guildford/Dorking (we almost bought a place in Godalming a few years back), but unless you're in a town you may to drive to get anywhere bigger (bit of a statement of the obvious..), if you want to get into London it adds a fair bit to travel costs
T'other thing that swings it for me is I see quite a few bands over the year - other than mebbe the midlands, no-where else quite competes.
Ignore the 'it's a sh*thole' comments - it is what it is - and what you make of it. There's areas I would't touch with a bargepole but London's so big you can forget 'em.
>middle aged?
Hey, I resemble that remark :p
