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ABSTRACT
This research investigates the sources, reliability of property market information and the factors influencing data assemblage for valuation practice in Warri. The study examines the sources of data for real estate valuation in Warri with a view to identify any deficits and suggesting ways of enhancing valuation practice. This research adopts the research survey design using a questionnaire as the means of primary data collection and web-based survey (internet) to seeks the opinion of the estate surveyors and valuers. This study, thus, relied on a combination of a systematic identification and review of literature and a questionnaire survey of 26 was administered to real estate valuers in Warri, this was analyzed using descriptive statistics. This Findings reveal that firm’s database is the most used market data source, local real estate agent was regarded as the most reliable source compared to property owner, which was considered as the least reliable source. This require practitioners to demonstrate care, consciousness and a set of data collection skills suggesting a need for valuers and estate agents to undergo regular relevant training such as Mandatory Continuing Professional Development (MCPD) seminar to develop and enhance their knowledge, skills and capabilities. The establishment of a property market databank to help in the provision of reliable market data along with a suitable market data collection template. This study makes a significant contribution to the body of knowledge by providing empirical evidence on the frequency of use and the reliability of the various sources of market data. It also provides useful insights for regulators such as the Nigeria Institution of Surveyors and Valuers (NIESV), the Royal Institution of Chartered Surveyors (RICS) and other stakeholders. the Government to improve the provision of reliable property market information towards developing valuation practice.
