Yea, if you just act 'streetwise' and don't do stupid things like walking around with open pockets and flashing your brand new £400 mobile phone in people's faces, then you're fine. At night, just be more careful about who you walk near, and don't use any shortcuts like alleyways.
Try and get to know some people who are staying in the same accomodation as you, so that you can travel to and back together.