THE IMPACT OF INSURGENCY IN NEIGHBOURING STATES ON RESIDENTIAL PROPERTY VALUE IN BAUCHI

Bauchi is one of the oldest settlements in Nigeria. Its growth in the past had been based on the utilization of its natural resources and, in modern times, it still maintains its high population due to impressive infrastructural facilities, and the sustained stable market it provides for both manufactured and semi-processed goods. But, the recent upsurge in the threat of Insurgency in the Northern part of the country has had a major impact on the economy of Bauchi metropolis. The aim of this research work is to assess the impact of insurgency in the neighboring states on residential property value in Bauchi metropolis. In attaining this aim, questionnaires were administered to all the estate surveying and valuation firms in Bauchi Metropolis which is 5 in number. Out of the 5 questionnaires that were distributed, 4 questionnaires were retrieved. Also, questionnaires were administered to the residents of the six (6) selected residential areas in Bauchi where migrants from neighboring state migrated to as a result of the insurgency attacks; the selected residential areas are: Yelwa, Rafinzurfin, Bayara, Sarkin Power Street, Sabon Kaura and Bayangari. Out of 60 questionnaires that were distributed, only 45 questionnaires were retrieved.Data were collected from primary and secondary sources. The primary sources were through self-administered questionnaires with the goal of obtaining reliable information from the residents of residential properties in the selected areas and the registered firms of Estate Surveying and Valuation practicing in Bauchi metropolis while secondary sources included past research projects, journal articles and literatures on similar topics. The use of descriptive statistical techniques such as the frequency distribution table and charts was adopted in analyzing the data obtained. Finding from the study revealed that the rental value of residential properties had fallen due to mass movement of people from this region to other safe areas. It was also established by these residents that most of the properties affected are residential areas like Yelwa, Makama, Dan Kade, Ibrahim Bako and Dan Iya, Presently, the indications are that residential properties are losing their values in Bauchi State. It is recommended that government should beef–up security in this area so as to give property owners the confidence to remain and continue to invest in property development