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THE IMPACT OF ACCESSIBILITY ON RESIDENTIAL PROPERTY VALUES

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ABSTRACT

Several studies have postulated that the accessibility of a location affect the values of properties in that location. However, this research has drawn attention to the disposition of the Estate Surveyors and Valuers, Real estate developers and also investors with regard to factors of accessibility and how they enhance the value of properties. Therefore, this study has shown that accessibility has significant impact on residential property value in New Haven Layout, Enugu and its environment. It has enlightened the tenants on the important of living in an area with good infrastructural facilities.

1.1   BACKGROUND OF THE STUDY

At the foot of the Milliken Hill ridges lies Enugu, the then Capital of east-central state of Nigeria Enugu, which literally means ‘’hill top’, derives its name from its position among the Udi hills on an attitude of 689.8feet above sea level, area of 28.27 square meters with population of 722,664 according to 2006 census (Wikipedia, 2016) and close to two million according to 2015 estimates (Wikipedia, 2016).

According to ministry of information Enugu state (2002), Enugu owes its existence to the discovery of a rich seam of coal at east of Ngwo village in 1909 by a geological exploration team led by a British Mining Engineer W. J.Leck arrived in Enugu with a group of labourers from Onitsha led by Mr Alfred Inoma.W.J.Leck and his white assistants made their first home in temporary mud house on top of the Milliken Hill ridge in what is now known as the Hilltop, while the indigenous labourers established their own settlement on a super 200feet up the ridge and was called Alfred Inoma.

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