The Impact of Neighbourhood Churches on House Prices

Gabriel Kayode Babawale, Yewande Adewunmi

Abstract


This study extends literature that empirically investigates the impact of neighborhood churches on residential property values with particular reference to selected areas in Lagos metropolis. The hypothesis that proximity to a church has no effect (positive or negative) on house prices is tested with a standard hedonic pricing model using a sample of 450 rented apartments (flats) across the study areas. The results followed the more common belief that neighborhood churches, particularly the large ones, impact negatively on the values of nearby residential properties. It further revealed that where more powerful positive externalities exist in close proximity, the negative effects of churches, even the large ones, on residential property values can be neutralized or even overshadowed. Among others, the results of the study is expected to bring to light the social and economic implications of churches located within residential neighborhoods in the study area and thereby assist urban planners, the courts and real estate valuers in resolving the debate on the nuisance versus amenity effects of neighborhood churches.


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Journal of Sustainable Development   ISSN 1913-9063 (Print)   ISSN 1913-9071 (Online)

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