THE IMPACT OF STUDENT POPULATION ON RENTAL VALUE AROUND THE POLYTECHNIC NEIGHBORHOOD (CASE STUDY OF RUFUS GIWA POLYTECHNIC OWO) CHAPTER ONEINTRODUCTION
1.1 BACKGROUND TO THE STUDY
Tertiary institution is viewed as a magnet in the metropolitan area that attracts people and economic activity towards it (O‟Flaherty, 2005). In recent time the Nigeria government has shown strong commitment to growth in higher education sector by the establishment of more institutions especially polytechnics and the liberalization of its ownership. While this is the focus of the government little or no attention is given to the provision of accommodation in the polytechnic to meet the rising student population. As a result of this majority of the student population take solace in the rental market for alternative accommodation. The demand has resulted in the establishment of niche market because student’s market especially appears to be robust. Hence, Peacocke (1999) opined that the major characteristics of students demand is that it monopolizes the market thereby reducing supply to other tenant groups. For instance, close to 80% of students’ populations of the Rufus Giwa polytechnic, Owo, Ondo State are living in privately rented accommodation. The result of this is a sharp increase in rent since the available housing accommodation even in the rental market are not enough to meet the demand. In the past, houses were completed by landlords or property investors, but today, students struggle to make payment even when such accommodation are yet to be completed.
The landlords and investors exploit this situation and rents are arbitrary fixed and outrageous. Therefore, this study aims at investigating the impact of student population on the rental values around the polytechnic neighborhood.
Polytechnic as a social institution is seen as a great system concerned with imparting knowledge and skills, which help an individual to participate in the society (Ramon-Yusuf, 2003). Babalola and Okediran (1997) views Polytechnic education as that which facilitates creation of knowledge and innovation for the overall socio-economic empowerment of the individual and community development. Historically in Nigeria, majority of the Polytechnics were located at the community outskirts so as to create conducive environment for learning; less difficulty in getting required land size and the minimum financial implication attached. However, these polytechnics including the Rufus Giwa Polytechnic, Owo have enjoyed circumferential expansion in their neighborhoods primarily because of the functions they perform.
A polytechnic may generate different sort of impacts in a neighborhood. The presence of a polytechnic in a derelict area may initiate the transformation of the entire neighbourhood through the action of development, regenerating houses in order to attract students, staff, and those providing support services to live nearby (Perry and Wiewel, 2005). More also, polytechnic can also function completely apart from the surrounding neighborhoods, ignoring social problems (Anamaria and Melchior, 2007).
Anamaria and Melchior (2007) used two concepts to analyze the impacts produced by the presence of a tertiary institution in an area: to include magnets and enclave. The first concept used to describe the impacts of large land owners such as the polytechnic is the “magnet”. In urban terms, magnet represents a concept or metaphor which describes a territory in the metropolitan area which attracts people and economic activity towards it. Polytechnics can be qualified as magnets since they have the power of attracting many students, schools/faculties and staff as well as business and institutional activities to a specified region in a town. Polytechnics, when acting as a magnet, besides attracting uses that promote urban and economic growth, attracts activities regarded as damaging by particular groups in the society (Anamaria and Melchior, 2007). The second concept used to describe the impact of large land owners such as the polytechnics is the “enclave”. A new enclave represents a self contained place or region of the city, with uses or morphology different from the one of the surrounding neighborhood (Anamaria and Melchior, 2007).
According to Perry and Wiewel (2005), a polytechnic has traditionally seen itself as an enclave, “removed enough from the immediacy and demands of modern life to produce the knowledge and information with which to better understand the society”. Depending on the externality, the role of polytechnics as magnets most times overcomes their features as enclaves. Therefore, the concepts of magnets and enclaves represent an important methodological tool in the analysis of the impacts and externalities by the polytechnics on their neighborhoods (Anamaria and Melchior, 2007). Polytechnics and colleges primarily acquire land and structures that support their core mission or immediate growth demands, it is however not uncommon for surrounding communities to criticize polytechnics for their unresponsive development policies or lack of a plan to mitigate negative spillover effects (Sungu-Erylimaz, 2009). For neighbourhood residents, some of the major concerns relate to quality of life issues, such as conversion of houses and other buildings to student occupancy; upward pressure on rents; adaptation of shops and facilities to student markets; and increase in traffic, noise, and parking problems (Harasta, 2008)
1.2 STATEMENT OF THE PROBLEM Ankali (2007) carried out a study on the impact of tertiary institutions on residential property values in the Federal Polytechnic, Ede and found out that the establishment of the polytechnic led to the influx of people into the town, thereby, making the residential property market subsector experience a moderate increase in rental values between 1994 and 1997. Another slight increase was also experienced between 1998 and 1999 and the highest rental increment was observed between 2001 and 2005. However, tenement properties close to the Polytechnic experienced the highest rental growth rate. The researcher is examining in this study the impact of student population on rental value around the Rufus Giwa Polytechnic neighborhood.
1.3 OBJECTIVES OF THE STUDY The following are the objectives of this study:
To examine the impact of student population on rental value around Rufus Giwa Polytechnic, Owo. To examine the relationship between student population and rental value. To examine the impact of distance from Rufus Giwa Polytechnic Owo on the residential rental value.
1.4 RESEARCH QUESTIONS
What is the impact of student population on rental value around Rufus Giwa Polytechnic, Owo? What is the relationship between student population and rental value? What is the impact of distance from Rufus Giwa Polytechnic Owo on the residential rental value?
1.5 HYPOTHESIS HO: There is no significant relationship between student population and rental value around Rufus Giwa Polytechnic, Owo. HA: There is significant relationship between student population and rental value around Rufus Giwa Polytechnic, Owo.1.6 SIGNIFICANCE OF THE STUDY The following are the significance of this study:
The outcome of this study will educate the general public especially the higher institutions neighborhood communities on the impact of student population on the rental value. This research will be a contribution to the body of literature in the area of the effect of personality trait on student’s academic performance, thereby constituting the empirical literature for future research in the subject area.
1.7 SCOPE/LIMITATIONS OF THE STUDY This study will cover the relationship between student population and rental value around Rufus Giwa Polytechnic, Owo.LIMITATION OF STUDYFinancial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work
Chapter three of the research project or the research methodology is another significant part of the research project writing. In developing the chapter three of the research project, you state the purpose of research, research method you wish to adopt, the instruments to be used, where you will collect your data, types of data collection, and how you collected it.
This chapter explains the different methods to be used in the research project. Here you mention the procedures and strategies you will employ in the study such as research design, study design in research, research area (area of the study), the population of the study, etc. You also tell the reader your research design methods, why you chose a particular method, method of analysis, how you planned to analyze your data.
Your methodology should be written in a simple language such that other researchers can follow the method and arrive at the same conclusion or findings.You can choose a survey design when you want to survey a particular location or behavior by administering instruments such as structured questionnaires, interviews, or experimental; if you intend manipulating some variables.
The purpose of chapter three (research methodology) is to give an experienced investigator enough information to replicate the study. Some supervisors do not understand this and require students to write what is in effect, a textbook.A research design is used to structure the research and to show how all of the major parts of the research project, including the sample, measures, and methods of assignment, work together to address the central research questions in the study. The chapter three should begin with a paragraph reiterating the purpose of research. It is very important that before choosing design methods try and ask yourself the following questions: Will I generate enough information that will help me to solve the research problem by adopting this method?
I think the most appropriate in methods versus methodology is to think in terms of their inter-connectedness and relationship between both. You should not beging thinking so much about research methods without thinking of developing a research methodology.
Metodologia or methodology is the consideration of your research objectives and the most effective method and approach to meet those objectives. That is to say that methodology in research paper is the first step in planning a research project work.
Example of methodology in research paper, you are attempting to identify the influence of personality on a road accident, you may wish to look at different personality types, you may also look at accident records from the FRSC, you may also wish to look at the personality of drivers that are accident victims, once you adopt this method, you are already doing a survey, and that becomes your metodologia or methodology
Your methodology should aim to provide you with the information to allow you to come to some conclusions about the personalities that are susceptible to a road accident or those personality types that are likely to have a road accident. The following subjects may or may not be in the order required by a particular institution of higher education, but all of the subjects constitute a defensible in metodologia or methodology chapter. Click here to complete this article - How To Write Chapter Three Of Your Research Project (Research Methodology)
Your methodology should aim to provide you with the information to allow you to come to some conclusions about the personalities that are susceptible to a road accident or those personality types that are likely to have a road accident.
The following subjects may or may not be in the order required by a particular institution of higher education, but all of the subjects constitute a defensible in metodologia or methodology chapter.
Click here to complete this article - How To Write Chapter Three Of Your Research Project (Research Methodology)
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