The Impact of Traffic Gridlock on Values of Residential Properties in Apapa, Lagos Nigeria

Abstract

Abstract Traffic gridlock has been a concern in research particularly in determining its effect on property values. Resultant findings have either been a negative or positive impact. For the case of Apapa in Lagos State which is the focus of this present study, traffic gridlock has been an experience of over ten years, hence the need to discover its impact on various property value types as against the collective findings in most previous research. Student-T test of significance at a 95% level of confidence was adopted with results derived for all property types of the calculated T result far outweighing that of the stipulated Tabulated T result of 1.645. These findings for all property types indicate that the increase in property values for various property types have not been distorted by the traffic gridlock and as such investors in residential properties in the study area will always make their profit notwithstanding the gridlock. The researchers hereby advocated further research in determining the choice of residency in Apapa notwithstanding the traffic gridlock.