Amietsenwu, B.V., Federal University of Technology, Akure, Nigeria
The paper examined changes in rental values of residential properties in two neighbourhoods (Oke - Ijebu and Apatapiti) in Akure from 2001 to 2011. The intent is to provide a measure of the performance of this sector in the past years. Questionnaires were administered on 14 registered Estate Surveyors and Valuers practicing in Akure out of which 11 were returned and good for analysis. The returned questionnaires were analysed using the Trend Analysis and regression model for the computation of growth rate. The findings indicated that rental value of 3 Bedroom flat and tenement accommodation have been on the increase since 2001 to 2011 especially with Apatapiti neighbourhood having higher rental values than Oke - Ijebu. The result also showed the growth rates of 3 bedroom flat and tenement accommodation in Oke Ijebu to be 38.44% and 43.07% respectively as against 23.15% and 34.98% for 3 bedroom and tenement accommodation in Apatapiti area. It is therefore, recommended that the federal government should build more hostels in the Federal University of Technology Akure which is close to Apatapiti one of the study areas. This gesture will help to lessen the burden on accommodation especially in Apatapiti thereby, reducing the undue advantage taken by landlords in increasing rents.