Estate Management &Valuation

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Estate Management &Valuation

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    Determining House Prices in Low Income Neighbourhoods of North-Central Nigeria: A Categorical Modelling Approach.
    (2022) Ogunbajo, R. A; Olabisi S. A.; Wali R.I
    In recent times, researchers from social and behavioural sciences in developing countries have begun to look in the direction of the quality of the influencing housing attributes on house prices. These attributes are best measured qualitatively on ordinal and/or nominal scales. As such, an important development in multidimensional data analysis is the optimal assignment of quantitative values to qualitative scales. This study utilised the categorical modelling approach to determine the contributory effect of housing attributes on rental house prices in North-Central Nigeria. The categorical regression model uses the optimal scaling methodology as developed in the Gifi system to quantify categorical variables according to a particular scaling level, thus “transforming” categorical variables into numeric variables. Having adopted + 10% precision and 90% confidence level, a total of 1,134 housing units were sampled by stratified and random selection. The data used were generated through questionnaire. Nine housing attributes were found to sustain residential buildings in the study area and these accounted for 45% and 61% variance in the rental prices of two major low income house types. Results suggested that the identified housing attributes significantly predicted rental values for the low income house types. The mean of predicted rental values were further computed for each house type and compared to the means of the actual rental values collated in the course of data collection and presented with line graphs. Results showed predicted values that are reasonably similar to the actual rental values of the dwelling units. Thus suggest a reasonably accurate prediction of rental house prices using the categorical regression approach.
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    Distribution and Access to Urban Infrastructure by Residential Property Occupiers in Minna, Nigeria
    (University of Lagos, 2022) Rukaiyat Adeola Ogunbajo; Lateef A. Lawal; Sulaiman Adesoji Olabisi
    Urban infrastructure encompasses the essential amenities, facilities, and services that make life easy and comfortable for residents within neighbourhoods. The provision of nine basic urban amenities across thirteen neighbourhoods in Minna, and measurement of access to amenities by households are the points of evaluation in this study. A total of 1,134 housing units were sampled using the stratified and systematic random sampling techniques. Data were generated from questionnaires, inspections and enumeration in the study area. Weighted mean scores were computed and indexed to determine overall accessibility to amenities. The location quotient (LQ) was used to estimate the degree of concentration of the amenities, while the Welch adjusted analysis of variance tested for a significant difference in the distribution of urban amenities across neighbourhoods. The adjusted Welch's F ratio was 2.959, which was significant at the 0.05 alpha level, suggesting an uneven distribution of amenities across neighbourhoods in the study area. This study emphasises that government at all levels should prioritise provision and development of amenities and also support efforts by communities regarding basic amenities and services.