A Correlate Analysis of Residential Property Values at Border Communities of Ogun and Lagos States. Nigeria

This study highlights the disparity in the property values of adjacent communities under different geographical and administrative jurisdiction. Also identified are the factors responsible for the variations and implications for the emerging megacity. Extant literatures were reviewed to establish divers’ interests, perception and context of the study. Data were collected with structured questionnaires administered to two categories of respondents; residents in the neighbourhoods and professional property managers. A total of 236 questionnaires were administered. Statistical tools such as percentages mean and independent sample T-test statistics were used to analyse the data collected on rental values of residential properties and results presented in tables. Pearson coefficient of correlation was used to establish the degree of relationship. Results of data analysis showed that significant differences exist between rental values of residential properties in the two border communities while the Pearson correlation coefficient revealed a strong positive correlation between rental values of properties in the neighbourhoods. Significant amongst the factors affecting property values in the communities are the level of infrastructure development, adherence/enforcement of physical planning regulations, administrative jurisdiction, population density, proximity to CBD and level of commercial activities. The study concluded by recommending major investment in physical and socio-economic infrastructure in both communities and creation of joint development policy and programme by governments of Lagos and Ogun states so as to overcome administrative jurisdiction barrier militating against the actualization of the megacity project