Did I make a mistake buying in Old North?
My wife and I bought a lovely little home in Old North. It's been completely flipped and is absolutely perfect for us. We love being within walking distance of Gibbons park, The Downtown, and the grocery stores on Adelaide (and we've become HUGE Jumbo video fans!).
And while we love the area, This new announcement of the upcoming Soho Complex has got me thinking; With the Old East being completely reborn and a similar outcome seeming likely for the south of the core region, will all this gentrification and development in the other core adjacent parts of London hurt the Old North's reputation and value?
Despite all the nice old homes, it doesn't exactly have any urban offerings in the immediate vicinity. There are no Wortley village like areas, no dundas type commercial streets. Aside from our restaurant neighbor and a salon up the street, we have to walk about a kilometer to get to any sort of business (which is nothing for us, but too far for others). And it seems susceptible to an influx of student properties leading to a decline in property values.
So I'm wondering, when we eventually decide to sell, will Old North still be the sought after location it is now? or will it be in a tough competition with other areas of London. Did we make an investment? or just buy a place to live?