-EVALUATING THE RELATIONSHIP AMONG HOUSING DENSITY, NEIGHBOURHOOD QUALITY AND RESIDENTIAL PROPERTY VALUE IN MINNA, NIGERIA

Abstract

The importance of environmental quality studies is root~d in measuring and comparing the potential of different housing environments. The problem to be solved by this research include to examine the various housing densities in Minna and determine the qualities of their neighbourhood and determine if differences in property values can be attributed to variations in neighbourhood qualities. The aim of this research was to exqmine the relationship among housing density, neighbourhood quality and property value. The primary data collected for. this research included neighbourhood quality attributes, annual rental values of properties in the different neighboUrhoods and facts about the neighbourhood densities. Methods of data analysis included, Analysis of variance (ANOV A) to determine the neighbourhood quality index at all neighbourhoods. Correlation analysis to dete~Ihine , the relationship between average neighbourhood quality and average property value,at all neighbourhoods, Regression analysis to compare neighbourhood quality and property value at all sampled locations. Multiple regression analysis to establish the relationship between housing density and property value. Assessment of property values by correlation analysis revealed that Property values measured as average rent (avre) differed , across all six neighbourhoods sampled. This is· because the coefficient of determination (R2) observed was 76%.This meant that variations in average neighbourhood quality index (nqi) were responsible for about 76% of variations in property values. Regression analysis also provided evidence of a statistiCally significant relationship between property values and neighbourhood quality, measured across all sampled locations the regression equation gave an R2 value (coefficient of determination) of 0.070. This meant only 7% of the variations in property values could be attributed to variations in neighbourhood quality across the san1pled neighbourhoods. These results meant that there is statistically significan~ relationship between neighbourhood .quality and property value in Minna. Result of Multiple regression analysis shows that there is a statistically significant relationship between housing density and property value in Minna because the F calculated of 5.977 is greater than the tabulated value of 2.60. It was recommended that there is need for an Lirgent upgrade of the facilities in our neighbourhoods to become big agents of value creation for property investors as it is in most developing and developed economies.