It has improved vastly and I have no complaints about living here. What should be remembered are the reasons why house average prices are lower than GB and it's certainly not because of over supply.
Wages here are lower than GB, significantly lower than the south east, while goods cost the same amount (sometimes more). If you've saved a load and want to retire here, then you're in a good position. If you plan to continue working, then you'd probably be in the same position as before (possibly less well off), but might find the pace of life to be a little more relaxed.
As for our historic problems? You aren't likely to be troubled by that, but nor would you have experienced many issues 30 years ago - despite what the media might have led you to believe.
There are great places to live here and also terrible places, just like anywhere else.
