Determining Factors For Housing Affordability In Ibadan, Nigeria
Housing affordability has been a concern in developed and developing world because of its role in man’s welfare and productivity. This study aims at investigating determining factors for housing affordability in Ibadan urban centres. Questionnaire was developed based on consumers’ evaluation on variables identified from the literatures. The administration of questionnaire was carried out among 494 respondents within five local government areas that constitute Ibadan metropolis. The data collected was analysed statistically using statistical softwares SPSS version 22. Exploratory Factor Analysis (EFA) technique was applied to define the determining factors for housing affordability. The result through EFA revealed house rents, housing preference, housing satisfaction, land price and government intervention as the determining factors for housing affordability. The multiple regression analysis confirmed land price, housing satisfaction and housing preference to be the most significant factors. The study encouraged and suggested urgent steps to be taken for the improvement and transformation in the Nigerian housing delivery to achieve affordable housing in Ibadan urban centres.
Key Words: Determining factor, Housing, Housing affordability, Ibadan, Urban centres