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@Andrew
Yeah, I went there on my second post. Agreed.
I have a friend who did inherit a flat in Highbury. It really has made a big difference to his life. Housing premanently sorted out, earn £30k like you say, and he had money for beer. Want to leave London (or the country) for a few months/years, rent it out and live on the money. I am not bitter, when I first arrived in London, I rented the place off him for £50 a week. A while ago, but it was a very good price for a 2 bedroom flat in Highbury :-)
He's coming back from South America today, been there three months. I'll meet him after work and we shall drink and talk of the old days. I love drinking with friends. Is that news?