Housing is a major asset in the property portfolio of every individual and it represents the largest life-long investment and a store of wealth for every man. Acquisition of a housing unit therefore requires a well-functioning financial market. To end, this study examines factors influencing householdsâ€™ accessibility to housing finance market with a view to recommending appropriate strategies for making it more vibrant and efficient in Nigeria, using Lagos State as a case study. Multistage sampling technique was used to sample household heads, using 535 sets of questionnaire, out of which 475 sets were retrieved and found to be analysable. This represents a response rate of 88.8%. While the socio-economic characteristics of the respondents were processed using frequency counts, percentages and mean, the factors influencing householdsâ€™ accessibility were captured with the use of chi-square analysis. Results showed that 67.7% of the respondents were male while the remaining 32.3% were female. Also, occupation (Ï‡2= 69.27) and estimated monthly income (Ï‡2= 93.51) were the significant variables that significantly influenced respondentsâ€™ level of accessibility to housing finance at 0.01 level of significance. Similarly, age (Ï‡2= 73.16) was a significant socio-economic factor that has association with level of accessibility to housing finance; this was at 0.05 level of significance.
Keywords: Housing, Finance and Accessibility