A CRITIQUE OF HOUSING AFFORDABILITY: APPRAISING FACTORS AFFECTING NO/LOW INCOME EARNERS IN IBADAN

O. Babatunde¹, J.O. Awofodu² & O. M. Oladunmoye³

¹Department of Architectural Technology, Oke – Ogun Polytechnic, Saki Oyo State.

²Department of Architecture, Lead City University, Ibadan, Oyo State

³Department of Architecture, University of Ibadan, Oyo State.

Abstract

Despite some attempts at achieving decent housing for Nigerians, Nigeria as a whole failed to address the dire housing conditions of her population. The situation has been partially ameliorated through the activities of the private sector housing developers who have mainly concentrated on the upper-middle and upper earners of the housing market and government housing schemes targeting the lower-middle earners with no known focus on the low and no-income earners, which recent studies reveal to cover over 60% of the working class population creating an acute need for intervention. Yet, there are some factors affecting low or no-earners’ in the area of housing affordability. This is the gap in knowledge sought to be filled by this study. The survey research design was adopted for this study. Data were collected from both primary and secondary sources. Simple systematic random sampling techniques was adopted in administering a set of questionnaire to respondents. The findings revealed the relative contribution of each of the independent variables to the prediction of the dependent variable Housing the low income earners in Ibadan North L.G.A of Oyo state in logical order  Housing Affordability ( Beta = .119; t = 5.156; p < 0.05). The study also revealed that factors like housing accessibility, income per family, high house rent and financial wherewithal low earner’s relatives greatly affect no/low income earners in terms of housing affordability. It is thus concluded that access to building finance at favorable terms to developers of low-income accommodation and credit facilities for housing construction should be expanded.

Key words: Accommodation, Affordability, Housing, Housing Market, Low/No Earners.