Ibadan Journal of the Social Sciences
Volume 20, No. 1, 2022
DOI: 10.36108/ijss/2202.02.0140
Analysis of Housing Rent Dynamics in Ibadan North Local Government, Oyo State, Nigeria
U. U. Jimoh1 and A. S. Famewo1
1Department of Urban and Regional Planning, University of Ibadan, Nigeria
Abstract
The scale of the housing challenge in sub-Saharan Africa is alarming, with a great gap in its demand and supply along with variations in its quality and quantitative measures. While studies have focused on the various aspects of housing, that which centred on rent vis-a-vis trend has not been given adequate attention in the literature. This study, therefore, analysed the housing rent dynamics in Ibadan North Local Government Area (LGA), Oyo State Nigeria. Rent-gap theory provided an anchor for the study while survey research design was adopted. Both primary and secondary data were sourced. A purposive multistage sampling technique was used in selecting Ibadan North Local Government Area. The choice of Ibadan North was premised on being the urban local government and the seat of administration in Oyo State. The total number (76740) of regular housing stock in Ibadan North LGAs, which was extracted from the National Population Priority Table for Housing and Social Amenities in the 2006 Population and Housing Census and the World Population Data Sheet, 1991, which contains the population per wards for Ibadan North was determined. A structured questionnaire was administered to 380 (0.5%) respondents taken proportionally across all the existing wards. Other information was elicited from six identified estate agents domiciled in the study area. Variables that were considered included socio-economic characteristics, housing type, rental price, factors influencing changes in rental price and rental trends. Data were analysed using both descriptive and inferential (multiple regression and trend analysis) statistics. The study revealed that male-headed households and renters are the dominant population, as they accounted for 55% of the respondents in the study area. About 28.9%, which is the highest income distribution, earned between ₦10,000 – ₦30,000 monthly. There is a significant relationship between rental price and housing and neighbourhood/locational factors (F= 211.298). The trend revealed persistent increases in rental prices over time largely influenced by the socio-economic characteristics of residents, quality of housing, inflation and cost of rehabilitation. This study concludes that there is a positive relationship between rent patterns over time and across space and the socio-economic characteristics and housing characteristics of residents. Therefore, the housing supply should be effectively addressed by giving cognisance to rental housing and urban development.
Keywords: Rental dynamics; rental price; rental trends; housing structure; Ibadan North