International records / OpenAlex research

Identification of key macroeconomic variables for forecasting housing construction costs in Nigeria

The housing sector in Nigeria has been undermined by the persistent rising costs of building construction. This study therefore determined the key macroeconomic factors influencing housing construction costs in Nigeria. Data obtained from quantity surveying firms and central bank of Nigeria (CBN), were analysed using one-sample T-test, Pearson correlation and Granger causality test. Findings reveal that fluctuations in costs of housing within the period were statistically significant. The results further indicate that GDP, money supply, exchange rate and inflation rate have significant positiv…