EFFECT OF URBAN VIOLENCE ON THE PROPERTY MARKET IN NORTHERN NIGERIA (CASE STUDY OF JOS)

Abstract

Urban violence continues to be a problem in the property market in Northern Nigeria despite every effort put in place by various government both in the past and in the present. This study therefore, examine the types of urban violence prevalent in Northern Nigeria, determines the causes of the violence, assess the investors willingness to invest in the property market prone to violence situations and the effect of urban violence on the property market. A total number of 448 questionnaires were administered to, out of which 271 questionnaire were retrieved and found useful for analysis. Also 22 firms of Estate surveyors and valuers were administered questionnaire and 20 were retrieved and found useful for analysis. Both descriptive statistical tools and inferential statistical methods were adopted for the analysis. The descriptive statistical tools of percentage and weighted mean ranking was used to analyze the characteristics of the respondents to ascertain their suitability for the study. For the objectives, descriptive statistical tool of weighted mean ranking were used to analyze the types of urban violence in the study area, while descriptive statistics was used to analyze the causes of urban violence and the weighted mean ranking was used to analyze the investors willingness to invest in property market prone to violence situation. Multiple regression analysis was used to analyze the effect of urban violence in the study area. The study revealed among other findings that ethnic divide was the most common cause of urban violence in the study area. The study also established that most investors are not willing to invest in property market prone to violence situations. The regression analysis revealed that violence situations are significant to investors who are risk averse and this is linked to the localized nature of the property market. Finally, the study recommends among others that property investors and consumer of real estate products do a proper consultation before they decide to invest in the property market in the study area.