THE EFFECTS OF CONSTRUCTION MATERIAL COST ON RESIDENTIAL PROPERTY DEVELOPMENT IN UYO METROPOLIS

ABSTRACT This study investigated the impact of construction material cost on residential Property development in Uyo Metropolis, Nigeria. A survey research design was employed, with a total of 100 questionnaires administered to a representative sample of Professionals (Estate Surveyors and Valuers, Architects, and Builders: n = 18) and individuals (n = 64) in Uyo Metropolis. A response rate of 82% was achieved. The findings revealed a statistically significant (p< 0.000) relationship between construction material cost and residential property development in Uyo. Specifically, two of the five predictor variables - over dependence on imported materials and government policy - were found to significantly influence construction material costs and, consequently, residential property development. These results suggest that policies aimed at reducing reliance on imported materials and promoting local production of construction materials could significantly impact the cost of residential property development in the area. The study concludes that construction material cost plays a crucial role in determining the affordability of housing in Uyo (80% of respondents agreed). Based on the findings, the following recommendations are made: 1. Implement policies to reduce dependence on imported construction materials 2. Promote the use of local construction materials. 3. Improve the supply chain for local construction materials. 4. Conduct further research into the impact of construction material cost on housing affordability.