Assessing The Effects Of Urban Planning On Residential Property Values In Agege, Lagos

ABSTRACT In urban centres the essence of land use planning is to ensure that urban activities are organised and developed in physical space with due consideration for protection of public interest which include health, safety, convenience, efficiency, energy conservation, environmental quality, social equity, social choice and amenity. With this background, the study examined the effects of land use planning on residential property values using a comparison of two neighbourhoods in Agege Local Government Council Area of Lagos Metropolis. Two groups of respondents were used for the study; the Estate Surveyors and Valuers (29) and residents of New Oko-Oba GRA (120) and Orile Agege (140). Both descriptive and inferential statistical tools were used in analysing the data collected through the questionnaire administered on the respondents. The study revealed that there is significant level of difference in residential property values between the planned and unplanned residential areas. It further revealed that there is a statistically significant relationship between land use planning and property values. The study therefore recommends that government should ensure proper land use planning, while the people should be made to comply with such regulations. Necessary infrastructure should be provided to make conducive living, in the unplanned neighbourhoods possible.
Keywords: Lagos, Land Use, Property, Rental Values, Urban Area
INTRODUCTION According to Wikipedia (2011) the Canadian Institute of Planners (2011) , defines land use planning as the scientific, aesthetic, and orderly disposition of land use resources, facilities and services with a view to securing the physical, economical , social efficiency, health and wellbeing of urban and rural communities. Land use or physical planning has also been described as a process aimed at achieving orderly physical development with the overall aim of evolving a functional and liveable environment where individual and common goals can be achieved (Adeagbo 1998). The American Planning Association (2011) states that the goal of land-use planning is to further the welfare of people and their communities by creating convenient, equitable, healthful, efficient, and attractive environments for present and future generations.
Nigeria with her numerous planning agencies both at federal and state levels has a number of planned residential land uses nevertheless there seemed to be a wide gap between the planned and unplanned or non-adherence to formal land use planning. What is on ground physically has not shown government enthusiasm about land use planning. Though land use planning is a service that provides a scheme to be used for physical development of a proposed neighbourhood, it does not necessarily result directly into a good(s), it is however, judged by its product that is, the outcome of its implementation (Jiriko 1998). The overall success of planning is measured by the attractiveness of the neighbourhood to land users which in turn impacts on the value of the properties therein.
It is important to examine the effectiveness of land use planning in relation to property values to establish the effects that adherence to land use planning has on residential property (rental) values. This study therefore examined the relationship between urban planning and residential property values in some selected neighbourhoods within Agege Local Government Council Area of Lagos metropolis.