THE RELATIONSHIP BETWEEN THE PRICE OF BUILDING MATERIAL TREND AND BUILDING DEVELOPMENT IN SOUTH EAST NIGERIA

This study examines the relationship between the trend in prices of building materials and building development in South East Nigeria. Over the years, the construction sector in Nigeria has experienced persistent increases in the cost of essential building materials such as cement, steel reinforcement, sand, and aggregates, largely driven by inflation, exchange rate volatility, and rising transportation costs. Given that building materials account for a significant proportion of total construction costs often between 35% and 75% their price fluctuations have profound implications for the pace, scale, and quality of building development. The study adopts a descriptive and ex-post facto research design to analyze historical price trends of selected building materials and assess their impact on building development indicators such as project completion rate, housing supply, and construction output in the South East region. Secondary data were sourced from construction industry reports, market surveys, and relevant academic literature, while analytical tools such as trend analysis and correlation techniques were employed to determine the nature and strength of the relationship. Findings reveal a strong positive relationship between rising material prices and increased construction costs, which in turn negatively affect building development. Escalating material costs lead to project delays, reduction in project size and quality, and in some cases, abandonment of construction projects. Additionally, developers and individuals often adopt cost-saving strategies such as phased construction, alternative materials, or design modifications to cope with price volatility. The study also identifies key drivers of price increases, including macroeconomic instability, supply chain inefficiencies, and inadequate local production capacity. The study concludes that fluctuations in the prices of building materials significantly influence building development in South East Nigeria, thereby affecting housing delivery and overall infrastructural growth. It recommends policy interventions aimed at stabilizing material prices, promoting local production of construction inputs, and improving supply chain efficiency to enhance sustainable building development in the region.