Some of the reasons we lived in London
(these apply to our area of London - we were zone 2 South London)
Most of all the buzz - the fact that the city is a significant world city which always has things going on. The possibilities...
The mixture of people from a range of backgrounds -everyone is 'from' somewhere so you are always finding new things and meeting new people who you would never come across in any other place in the UK.
the willingness of people to use community facilities - due to the neighbourhood nature of London most places have a local park or other centre that everyone knows and uses
The mixture of people you meet on a day to day basis - fellow parents with children at our local park included the deputy editor of a newspaper, a significant policy adviser at the Department of Education, various isgnificant civil servants, various people who work for the BBC, achitects, Drs and others - we were all users of the public facility. Not to mention the (semi) famous people wesee in Sainsburys, in the pub, out for dinner etc which always gives a thrill
The quality of the schools - by being able to attract younger and more diverse teaching staff the overall quality of schools is much higher. The results of our secondary school were significantly better than the local public school around here.
The opportunituies to do things and use the cultural highlights - we could go out in the afternoon and go to the national gallery, natural history museum or just walk around central London - mostly for free. get the tube to a new part of London/ discover a new park/ new town centre. And this made for easy entertaining of children - even a trip on the tube was exciting.
The opportunities for children to experience world class arts, culture, and also gain experience of working. This will allow them to build their careers whilst living at home (at least initially)
The cheap cost of transport - buses and tubes free for children - this meant that we didnt need a car which saved us lots of money and meant we could hire when we did.
The thousands of jobs available within a short distance. I work in the public sector and so my job is available in all 32 London boroughs and maybe 10 of them were within a half hour journey by tube/bus
The quality of cycling provision which has really improved over the past 10 years.
The fact that you can go out at any time and get on a bus to go somewhere
I could go on - its just a great dynamic city that always has something for everyone of every income level. And yes objectively your income is more in other parts of the UK but your costs are also more in many cases
I would recommend that everyone lives in London at least once in their lives.
After 20 years we have now left London but it was with a very heavy heart - we still try and go back there five or six times a year to see friends and see how the city is developing)