Browsing by Author "Morenikeji, G. B."
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Item Effect of Macroeconomic Factors on Residential Property in Abuja, Nigeria(EUROPEAN UNIVERSITY OF LEFKE JOURNAL OF SOCIAL SCIENCES, 2017-07-31) Wahab, M. B.; Adeogun, Adekunle Sunday; Morenikeji, G. B.; Mammah, M.; Abdulkareem, S. O.Performance of property market is a measure of total returns, and the totality of returns within the country property market is influenced by the state of the economy. The backward and form and relationship between property market and the economy has influenced a rise and fall in future of property returns in Ahuja market. The study utilized both primary' (returns) and secondary data (macro-economic variables), and the time-series data on annual macroeconomic indices and total returns index spanning between 2001-2015 were employed for the study. The result of Augmented Dicker Fuller (ADF) test showed that all the variables were stationary after first and second differencing order. The result of cointegration test further suggests the existence of long run relationship between macroeconomic factors and residential property returns. The result of further cointegration regression suggests that between 18.2%-83.6% and l6.2%-79% variation in 3B/R and 4B/R property returns respectively across the seven out of twelve residential markets were significantly influenced by macroeconomic indicators. The study concludes that positive economic policies are meant to improve the property market, vice versa. The study therefore recommends that policy-maker should painstakingly study the future implication of any macroeconomic policy as such could adversely affect the property market, and this could also conversely affect the contribution of real estate sector to the national economy development, vise-versa.Item Risk-return Performance of Residential Property Investment in Abuja, Nigeria(ATBU Journal of Environment Technology, 2017-06) Wahab, M. B.; Morenikeji, G. B.; Adeogun, Adekunle Sunday; Durosinmi, A. W.; Shittu, O. W.The paper examined the performance of residential property market in Abuja with a view to determining the most performed market and the level of associated risk. The study utilized both descriptive (average rate of returns and coefficient of variation) and inferential methods ANOVA and USD). The results of descriptive analyses across twelve markets showed that Gwarinpa 3B/R and 4B/R markets performed better than other locations and it is the least volatile markets at 35% and 43% respectively, on every comparable average rate of property returns for 3B/R A?D 4B/R at 11.05% and 12.5% respectively. The result of ANOVA revealed that the F-statistics at 3.1061 and 2.6401 for 3B/R and 4B/R are statistically significant at p-value of 0.0127 and 0.0288 (p-values < 0.05). The result of honesty significant difference (HSD) revealed that the bulk of significant differences in property returns were found in Maitama markets. Therefore the study concludes that returns from Gwarimpa markets are relatively stable and having the least risk per unit cf 3B/R and 4B/R property investment with comparable average returns with other markets for any prudent investor.