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2018 | vol. 26, iss. 3 | 71--81
Tytuł artykułu

Ranking the Causative Factors of Mortgage Valuation Inaccuracy in Kaduna Metroplois

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This paper is aimed at contributing to the scarce empirical literature on mortgage valuation by ranking the factors that influences mortgage valuation inaccuracy in the Kaduna Residential property market. A quantitative research approach using a survey design was adopted and structured closedended questionnaires were designed and administered to 57 registered Estate Surveying and Valuation (ESV) firms in Kaduna metropolis; 51 out of the 57 administered questionnaires were returned and used for analysis. A simple random sampling technique was employed and the 5-point Likert scale used as the scale of measurement, while causative factors were ranked using the Relative Importance Index (RII). The study analyzed the data using percentages. Findings indicated that data inadequacy, imperfection in the property market and clients' pressure are the most trending in the absence of a unified valuation approach. The regulatory framework and valuation methodology are least contributory to valuation inaccuracy in the study area. The research will be of interest to practitioners and academic researchers interested in mortgage valuation as a guide for conducting mortgage valuation in the study area. (original abstract)
Słowa kluczowe
Rocznik
Strony
71--81
Opis fizyczny
Twórcy
  • Nuhu Bamalli Polytechnic, Zaria, Nigeria
autor
  • Kaduna Polytechnic, Kaduna State, Nigeria
autor
  • Abubakar Tafawa Balewa University, Nigeria
  • Nuhu BamalliPolytechnic, Zaria, Nigeria
Bibliografia
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  • Ajibola M., 2006, The Accuracy of Investment Method of Valuation in Nigeria: A Case Study of Lagos. An unpublished M. Sc., University of Lagos.
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  • Aluko B. T., 2000, A Study of the Appropriateness of Mortgage Valuation for Institutional Lending in Nigeria, an Unpublished PhD Thesis, Obafemi Awolowo University, Ile-Ife, Nigeria,
  • Aluko B. T.,2004, Reliability of Mortgage Valuation for Institutional Lending in Nigeria practice in Nigeria, International Journal of Strategic Property Management 8(4), pp. 193-203. doi: 10.1080/1648715X.2004.9637517,
  • Aluko T., 2007, Implications of the Current Trend, International Journal of Strategic Property Management 11, pp. 17-31,
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  • Babawale G. K., Omirin M., 2012, An Assessment of the Relative Impact of Factors Influencing Inaccuracyb in Valuation, International Journal of Housing Markets and Analysis 5, pp. 145-160, doi: 10.1108/17538271211225904,
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  • Effiong J. B., 2015a, A Comparative Study of Valuation Variance and Accuracy Between Nigeria and UK, International Letters of Social and Humanistic Sciences 57, pp. 94-105, doi: 10.18052/www.scipress.com/ILSHS.57.94,
  • Kucharska - Stasiak E., 2013, Uncertainty of Property Valuation as a Subject of Academic Research, Real Estate Management and Valuation 21(4), pp. 17-25, doi: 10.1108/AJEMS-11-2011-0106,
  • Munshifwa E. K., Jain N., Kaunda B. S., Masiba L., Lungu J., Chunda-Mwango N., Mushinge A.,Ngoma W., 2016,Variances in Rateable Values in Rating Practice in Zambia: the Role of Mental Models in Value Assessment, Pacific Rim Property Research Journal, Routledge, 22(2), pp. 181-201, doi: 10.1080/14445921.2016.1225151,
  • Ogunba O.A., & C. A. A., 2007, The Response of Nigerian Valuers to Increasing Sophistication in Investors' Requirements, Journal of Property Investment & Finance 25(1), pp. 43-61, doi: 10.1108/14635780710720162,
  • Ogunba O., Ajayi C., 1998, An Assessment of the Accuracy of Valuations in the Residential Property Market of Lagos, The Estate Surveyor and Valuer 21(2), pp. 19-23,
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  • Oluwunmi A.O., Ajayi C.A., Olaleye A., Fagebnle O. I., Oluwunmi A., Ajayi C.,Olaleye A., 2011, An Analysis of Clients' Satisfaction with Mortgage Valuation Reports in Nigeria, International Journal of Marketing Studies 3(2), pp. 160-168, doi: 10.5539/ijms.v3n2p160,
  • Onyejiaka J. C., Oladejo E. I.,Emoh F. I., 2015, Challenges of Using the Cost Method of Valuation in Valuation Practice: a Case Study of Selected Residential and Commercial Properties in Awka and Onitsha, Anambra State, Nigeria, International Journal of Civil Engineering, Construction and Estate Management 3(2), pp. 16-35,
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171538797

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