FI NANCI ALFACTORSI NFLUENCI NGPRI CI NGOFRESI DENTI ALHOUSESI NNAKURU EASTSUBCOUNTY, KENYA

Abstract

Ther ealest at emar ketpl ay sav er yi mpor t antr ol ei nanyeconomy .I ti sknownt ohav ea dr amat i cmul t i pl i eref f ectandi ti sakeyeconomi ci ndi cat or .Ther ealest at emar kethas exper i encedsi gni f i cantgr owt hi nt hel astdecadewi t hmanycount r i esexper i enci nghouse pr i cef l uct uat i ons.TheKeny anr ealest at emar kethasbeenexper i enci ngaboom i nt he pastt eny ear sandt hel at estf i ndi ngshav eshownt hatt het r endwi l lcont i nuei nt ot he f or eseeabl ef ut ur e.Thest udyt her ef or esoughtt o i nv est i gat et hef i nanci alf act or s i nf l uenci ng pr i ci ng ofr esi dent i alhousesi n Nakur u eastsub Count y ,Keny a.Mor e speci f i cal l yt hest udywasexami ni ngt hei nf l uenceofcostofl and,i nt er estr at esand mor t gager i skonpr i ci ngofr esi dent i alhouses.Theor i est hatwer eusedi nt hest udy i ncl udedHedoni cModelofPr i ci ng,Cl assi cTheor yofI nt er estRat e,t heTi t l eTheor y , Si mul at i onTheor yandSt r uct ur al -For mTheor y .Thest udyempl oy edexpl anat or yr esear ch desi gn.Thet ar getpopul at i onoft hest udywas60manager soft he60r ealest at e compani esandagent si nNakur u.Ther esear cheradopt edacensuswher eal lt he manager s i n t he r ealest at e agenci es and compani es wer e t aken as t he st udy ’ s r espondent s.Dat acol l ect i onwasdonet hr oughuseofquest i onnai r esconst r uct edonf i v e poi ntl i ker tscal e.Thecol l ect eddat awasanal y zedusi ngst at i st i calpackagef orsoci al sci ences( SPSS) .Thequest i onnai r ewast est edf orv al i di t yandr el i abi l i t ywher eCr onbach’ s coef f i ci entAl phawascomput edf ort hei nst r ument .Dat awasanal y zedusi ngdescr i pt i v e st at i st i cswhi chi ncl udedf r equency ,per cent ages,meanandst andar ddev i at i onand i nf er ent i al st at i st i cswhi chi ncl udedr egr essi onandcor r el at i onanal y si sandwaspr esent ed i nt abl esandf i gur es.ANOVAwasusedt ot estt hei nf l uenceoft hei ndependentv ar i abl es ont hedependentv ar i abl eandt hest udyhy pot hesi satp<. 05l ev elofsi gni f i cance.The st udyexami nedt hatmor t gager i skhadaposi t i v esi gni f i cantr el at i onshi pwi t hpr i ci ngof r esi dent i alhousesi nNakur uEastSubCount y .Ont heot herhandcostofl andandi nt er est r at esdi dnothav easi gni f i cantr el at i onshi pwi t hpr i ci ngofr esi dent i alhousesi nNakur u EastSubCount y .Regr essi onanal y si sshowedt hatmor t gager at es,costofl and,and i nt er estr at essi gni f i cant l yi nf l uencedpr i ci ngofr esi dent i alhousesi nNakur uEastSubCount y .Thest udyconcl udedt hatcostofl andhadnosi gni f i cantr el at i onshi pwi t hpr i ci ng ofr esi dent i alhousenei t herdi di ti nf l uencet hepr i ci ngofr esi dent i alhousesi nt hear ea. Addi t i onal l y ,i twasconcl udedt hati nt er estr at esonl oansal sodoesnoti nf l uencet he pr i ci ngofhousesi nt hear ea.Thest udyr ecommendedt hatgov er nmentshoul dbr i ng downt her ent alpr i cesbycomi ngupwi t hpol i cymeasur est oensur et hatt hecostofl and i sbr oughtdownt oencour agemor epeopl et obuyl and.Fur t her ,t hebanksshoul dt ake adv ant ageoft hei ncr easi ngdemandf orhomeowner shi pbybr i ngi ngdownt hei nt er est r at esonl oanst husat t r act i ngmor epeopl et ot akeupl oanst huscr eat i ngmor epr of i t sf or t hebank