Determinants of House Ownership Among University of Uyo Staff: Emerging Lessons

Abstract

Man has consistently tried to build his immediate environment so as to provide a means to cover and protect himself from the external elements. Despite man’s effort to provide decent accommodation, his effort seems unrealizable with processes that are too cumbersome. This paper seeks to investigate determinants of house ownership among University of Uyo Staff. For the purpose of collecting data, a population size of 2494 Staff was identified through the Department of Establishment, University of Uyo. However, one hundred and fifty (150) copies of questionnaire were distributed among the University staff using simple random technique. A Factor Analysis technique was used to analyze fourteen factors which five components were extracted and their factor loadings were used in examining the determinants. The factors were renamed to include family life cycle, identity, cost saving resources, socioeconomic, and catalyst of determination. Conclusion were reached that some individuals are oblivious or lack determination to build their own houses or they await a time where considerable savings will propel them to build a house but such opportunities are scanty. The study recommended that Physical Planners and Planning Agencies should advice government on the technological innovation needed to be in place to facilitate housing development which are not limited to computerized land information system, Geographic Information System and other relevant tools that can aid efficiency of work in the agencies. Also, people should invest in real estate knowing that housing is a veritable item of economic investment.

Keywords: House, Determinants, University of Uyo Staff, Ownership