Correlates of factors determining highest and best use of lands in housing estates in Lagos

Correlation coefficient is used to determine the strength of relationship between two variables. It is therefore apposite to run this process in the determination of the highest and best use of lands in residential estates. A total of 808 questionnaires were administered on landlords in Ikeja GRA (Low density), Ajao Estate, Isolo, (Medium density) and Oyadiran Estate (High density); 542 were found useful for the study. The variables considered for determination of HBU include, rental value (proxy for HBU), building type, accommodation, zoning regulation, land cost, plot size, accessibility, building cost, demand and market competition. Correlation matrix and Pearson’s Correlation Coefficient are employed for data analysis. The study shows that in low density estates, there is strong relationship between HBU and accommodation; in medium density estates HBU has strong and positive relationship with accommodation, building cost and building type while in high density estates, there exist direct and strong association between HBU and accommodation, building type, building cost and land cost. It is recommended that urban land use economics analysts should consider these strong correlates in their decision to arrive at the highest and best use of lands in the estates.