An Assessment of the Socio-economic Characteristics of the Incremental Housing Developers in Akure, Ondo State, Nigeria

This paper examined the socio-economic characteristics of the incremental housing developers in Akure, a three-stage sampling was done. First, the peripheral areas of Akure metropolis was identified and used as the clusters. The second stage of sampling involved selecting communities from each peripheral area in Akure metropolis. In selecting the communities, purposive sampling was employed. The third stage of sampling was used in choosing the target units which were the incremental house owners. Sample size was selected using statistically valid methods with the assurance of complete data from the sampling frame and such data are collected in a reliable manner. Google Earth imagery of the study area was gotten from Google Earth Pro.7.0.3.8542. The imagery was digitized and the numbers of buildings were counted using Autocad. Oba-Ile had 1,013 buildings, Ijoka had 413 buildings, Igoba had 602 buildings while, Orita-Obele had 565 buildings, and the number of buildings from the four corridors were estimated to a total of 2,593 buildings. Most of the respondents in the study area were artisan and trader. Finding also showed that the residents are low income earners and poor because their monthly income is below the international poverty line which is $1.90 a day and ₦360 in Nigeria Currency. This result showed that the low-income group is the major and the dominant income group in the study area. The study recommended that the Government should endeavor to design a policy that will be favorable to the masses and also make housing loan accessible to the masses. Government should assists in providing more infrastructural facilities in the study area. Also, government should sensitize the residents on the benefits of approval of plans and property documentations.