diff --git a/src/components/views/spaces/SpacePanel.tsx b/src/components/views/spaces/SpacePanel.tsx
index d68f665ddc..c120d7fd6a 100644
--- a/src/components/views/spaces/SpacePanel.tsx
+++ b/src/components/views/spaces/SpacePanel.tsx
@@ -97,9 +97,7 @@ export const HomeButtonContextMenu = ({
     hideHeader,
     ...props
 }: ComponentProps<typeof SpaceContextMenu>) => {
-    const allRoomsInHome = useEventEmitterState(SpaceStore.instance, UPDATE_HOME_BEHAVIOUR, () => {
-        return SpaceStore.instance.allRoomsInHome;
-    });
+    const allRoomsInHome = useSettingValue<boolean>("Spaces.allRoomsInHome");
 
     return <IconizedContextMenu
         {...props}
diff --git a/src/stores/spaces/SpaceStore.ts b/src/stores/spaces/SpaceStore.ts
index 068d51bace..a49414cf03 100644
--- a/src/stores/spaces/SpaceStore.ts
+++ b/src/stores/spaces/SpaceStore.ts
@@ -109,8 +109,9 @@ export class SpaceStoreClass extends AsyncStoreWithClient<IState> {
     private _invitedSpaces = new Set<Room>();
     private spaceOrderLocalEchoMap = new Map<string, string>();
     private _restrictedJoinRuleSupport?: IRoomCapability;
-    private _allRoomsInHome: boolean = SettingsStore.getValue("Spaces.allRoomsInHome");
-    private _enabledMetaSpaces: MetaSpace[] = []; // set by onReady
+    // The following properties are set by onReady as they live in account_data
+    private _allRoomsInHome = false;
+    private _enabledMetaSpaces: MetaSpace[] = [];
 
     constructor() {
         super(defaultDispatcher, {});
@@ -1042,6 +1043,8 @@ export class SpaceStoreClass extends AsyncStoreWithClient<IState> {
         const enabledMetaSpaces = SettingsStore.getValue("Spaces.enabledMetaSpaces");
         this._enabledMetaSpaces = metaSpaceOrder.filter(k => enabledMetaSpaces[k]) as MetaSpace[];
 
+        this._allRoomsInHome = SettingsStore.getValue("Spaces.allRoomsInHome");
+
         this.rebuildSpaceHierarchy(); // trigger an initial update
 
         // restore selected state from last session if any and still valid