Is it OK to go to University and still live with my parents?

In 2012 I'll hopefully be starting off life at Uni in London and I'm considering whether I should leave home or stay. A lot of my mates are leaving home so I kinda feel I should too, then again I find the thought of living in rented accommodation rather daunting, not to mention the cost that will come with it. Would it be acceptable for Uni student to still be living with their parents?