Key Features:

- No of Pages: 50

- No of Chapters: 05

- No of Tables: 06

- No of Figures: 03

- Questionnaire attached as appendix

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Introduction:

Abstract

This research attempts to assess housing affordability in Federal Housing Estate, Oke-Ila. It utilised a structured questionnaire for this purpose. The result of the analysis of this questionnaire reveals that among other things, greater percentage of people in the study area spend above 30% of their monthly income on housing. This is against the 30% affordability benchmark set by scholars such as Andrew (1998), Cox Dand Pavletich (2010) as well as Adedeji (2006). The research therefore concludes that greater percentage of people in the study area cannot afford adequate housing while others pay not just 30% but 50% of their monthly income on housing which is a cost-burden. This has adverse effect on their standard of living as what is left is insufficient to cater for other needs such as food, clothing, medical bills and so on. The paper also made necessary recommendations

Table of Content

TABLE OF CONTENTS

Title Page…………………………………………………………………………….i

Certification……………………………………………………………………….....ii

Dedication …………………………………………………….…………………….iii

Acknowledgement…………………………………………...………..………..........iv

Table of Contents……………...……………………………………………………..v

List of Tables…………………..……………………………………………….........vii

List of Figures……………………………………………………………………..…ix

Abstract………………………….……………………………………….….....….. ..x

CHAPTER ONE: INTRODUCTION

1.1 Background to the Study .......................................................................................... 1

1.2 Statement of the Problem ......................................................................................... 3

1.3 Research Questions………………………………………………………………... 5

1.4 Aim and Objectives ...................................................................................................5

1.5 Significance of the Study............................................................................................5

1.6 Scope of the Study………………………………………………………...………...5

1.7 Limitations of the Study…………………………………………………………….6

CHAPTER TWO: LITERATURE REVIEW

2.1 Concept of Housing Affordability…....................................................................7

2.2 Working Definitions of Housing Affordability....................................................14

2.3 Measuring Housing Affordability…… ...............................................................19

2.4 Federal Housing Provision and Policy in Nigeria ...............................................22

CHAPTER THREE: RESEARCH METHODOLOGY AND STUDY AREA

3.1 Introduction ..............................................................................................................25

3.2 Sources of Data Collection........................................................................…………25

3.3 Data Collection Instrument ......................................................................................25

3.4 Sampling Technique ................................................................................................26

3.5 Sample Frame and Size ...........................................................................................26

3.6 Method of Data Analysis …….................................................................................26

3.7 Study Area …………………..................................................................................26

3.7.1 Historical Background of Federal Housing Oke-Ila………………………………29

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction .............................................................................................................30

4.2 Distribution of Questionnaires.....................................................................................30

4.3 Respondents; Bio- data ...........................................................................................31

4.3.1 Respondents Sex ..................................................................................................31

4.3.2 Respondents’ Level of Maturity .........................................................................32

4.3.3 Respondents’ Level of Income ...........................................................................32

4.3.4 Respondents’ Occupancy Duration .........................................................................34

4.3.5 Types of Residential Property Occupied by Respondents .................................34

4.3.6 Percentage of monthly Income spent on housing by residents….………...35

4.3.7 Residents’ Satisfaction with current living arrangement………………..…35

4.3.8 Respondents Opinion on how housing can be made affordable………….36

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary......................................................................................................37

5.2 Conclusion ..................................................................................................38

5.3 Recommendation ..................................................................................................39

REFERENCES .................................................................................................40

Introduction

Housing can be defined as buildings or structures that individuals and their family may live in that meet certain federal regulations. Housing provision policies and approaches have long been implemented in many developing nations in a bid to enhance its affordability as an inevitable human need (Teekhong 2012).

Ademiluyi (2010) opined that housing represents a major area of deprivation for the urban poor. The rate of provision of new housing stock in Nigeria has lagged behind the rate of population growth which is responsible for the formation of slums, growth of squatter settlement and higher rent behind the affordable limit of the poor.

Housing is one of the three basic needs of man and it is the most important for the physical survival of man after the provision of food (Turner 1983, Munonye 2009 and Olayiwola et al 2005). It has a profound influence on the health, social behaviour, satisfaction and general welfare of the community. (Okedele et al 2009) opined that in the assessment of man’s comfort, growth and development, it is inevitable that housing be considered as a critical element.

Over the years, governments had embarked in several housing intervention programme with the objectives of making available and affordable to the majority of the population these housing intervention are reflected in the annual budgetary provisions for housing urban development, and in establishment of institutional frame work for housing development (Diogu et al 2006).

According to Aribigbola (2009), despite the various effort of government, individual and agencies both locally and internationally to improve housing provisions, Nigeria housing problems particularly shortage and affordability still persist. This undo the popular believe to the growing international concern over the issues. Affordable housing according to Andrew (1998), United states department of housing and urban development (2005) is that housing which does not cost more than 30% of the income of the occupant household and that any family that pays 50% or more of household income on housing are considered cost burden and many have difficulty affording other necessities such as food, clothing, transportation and medical care. The provision of basic utilities and services particularly housing is partially the responsibility of the government who has been handicapped in recent time by declining political will and many more factors.

Ajanlekoko (2001) put it that, housing finance by its very nature is capital intensive venture which if it is to be financed through personal finance resources will require slow and tedious accumulation of savings. However since housing finance provides benefit over many years, long-term credit finance is a more logical opinion as it will spread the repayment of burden but this requires the availability of long-term funding and for which there must be institutional capacity, structure and mechanism that will allow a convenient and effective linkage between the savers and investors and the consumer of such funds

The concept of the national housing fund in the national housing policy is to ensure a continuous flow of long-term funding for housing development and to provide affordable loans for low income housing.

It is pertinent to write that Aribigbola (2008) observed that, the national housing policy does not want any Nigerian to spend more than 20% of its income on housing expenditure. This is a welcome development that the realities of the present day Nigerian living condition will not permit.

It is therefore obvious that, if housing affordability, will be within the reach of the average Nigerian, government must be prepared to do more by the way of housing delivery. Hence, research is conducted to assess the affordability of Federal Housing Estate using Oke-Ila Ado-Ekiti as a case study.