Academic journal article Asian Social Science

Socio-Economic Factors in Measuring the Demand for Residential Neighbourhood in Nigeria

Academic journal article Asian Social Science

Socio-Economic Factors in Measuring the Demand for Residential Neighbourhood in Nigeria

Article excerpt

Abstract

Socio-economic factor plays an important role in housing decision making through which demand for housing types and residential neighbourhood are made. This study aims at examining the relationship between socio-economic factors and the demand for residential neighbourhood in Nigeria within the context of Ibadan urban cenre. The study utilised the quantitative and qualitative methods. Quantitative approach was employed by the administration of questionnaire among 494 respondents while the qualitative aspect dealt with direct interviews through the use of unstructured questionnaire among 27 participants. Correlation, regression and content analyses were used to evaluate the results of the methods. The findings revealed that, these factors have a great influence on the social status of housing consumers and affect their demand for residential neighbourhood. In conclusion, the demand for residential neighbourhood in Ibadan urban centre has the potential to be explained by the socio-economic status such as; educational level, employment status, official status and monthly income of housing consumers.

Keywords: demand, Ibadan, residential, socio-economics, urban centres

1. Introduction

Socio-economic status of an individual can be used to explain household economic inequality which reflects his/her class, status and economic position in the society and play an important role in enhancing individual household and the whole of the society wellbeing. When searching for residential apartments, individuals and households consider two major criteria namely; the type of housing and the type of residential environment. The demand made by a particular household is guided by social life style and restricted by income and opportunities offered by the housing market (Yosef, 2005).

Housing is considered to be one of the basic necessities of life as it has a profound impact on health, welfare and productivity of individuals (Akintunde, 2008; Agbola & Kassim, 2007). In recent years, housing is not only considered purely as shelter but as a lifestyle which encompasses economic, social and educational needs (Ademiluyi, 2010). It must be able to meet the need and aspiration of the residents as well as contribute to the physical, mental, social wellbeing of the people and provide maximum quiet environment, living and outdoor spaces, privacy, cleanliness, safety and aesthetic satisfaction (Okechukwu, 2009; Israel & Bashiru, 2008; Agbola & Kassim, 2007; Ær?, 2006; Olayiwola et al., 2005).

Different individuals make residential demand based on their lifestyle which implies that persons may prefer an area because of the culture or lifestyle it projects (Ær?, 2006). Winstanley et al. (2002) argued that "while relevant factors can be isolated and probably ranked in importance to households, it is interconnections between the different factors that shape individual and household decisions". Tatu's (2010) study in Dar es Salaam in Tanzania explored the factors urban residents consider when making residential location decisions. The study reveals that someone's decision to move to an area to live involves thinking about the costs, influence of the location on livelihood, accessibility to public services, shops and school as well as the safety and wellbeing of the family together with whom the neighbours would be (Tatu, 2010).

The aim of this study is to explore the worth and effect of socio-economic factors in the prediction of residential neighbourhood demand in Nigerian urban centre. The research question to achieve this centred on to what extent the demand for residential neighbourhood can be predicted by socio-economic factors. Correlation and regression analysis were drawn between the housing density and socio-economic factors. The predictors of the demand for the residential neighbourhood were the socio-economic and demographic variables of the sampled respondents.

2. The Study Area

Ibadan is the capital city and administrative headquarters of Oyo state, Nigeria. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.