@The other Steve
Well I'm living in London, and yes it is an overpriced, overvalued, piss stinking filthy congested dark (piss stinking filthy badly maintained buildings block out the sunlight) hole.
Not sure about the scruffy layabouts bit though.
Much of London's population (Zones 1 to 3 anyway, which covers most of London) is full of a vast variety of people from lots of different countries.
Mainly though, it seems to be full of retail and offices, and the associated folk. These people are all largely hard working, and badly treated folk.
Badly treated by their employers and poorly paid in relation to the massive amounts of rent they have to pay - and none of them except the old school bankers apprentices could realistically afford to save up for a £15,000 deposit for their minging, tiny little flat with the (mostly always) crap landlord or even crapper estate agents.
Give them more money and the rest of the country complains they are getting paid too much, whilst the local councils bump up the council tax another 10% to take care of kids forming gangs and having fantasies about being proper gangs and get knives and guns and have fantasy wars which actually go to far and get people killed on occasion.
Give them more money and the house prices soar even further. The average price of a house here? No, a flat then? £250,000 for a poxy shoebox.
I hate living in London for that reason, the air of desperation is a stinky as the piss in the streets.
London has been poorly treated and badly neglected for a hell of a long time.