Study On The Regional Difference Of XinJiang Housing Market And The Macro-Regulation

This Paper chooses 14 represent cities of XingJiang as research sample, describes the regional difference of housing market from the angle of investment, price, supply and demand. Based on the above analysis, the paper classifies the 14 cities by clustering method and analysis the influence factor of classification features. Methods of Panel Data analysis model is used to analysis the influence factor of investment, Logarithms model is used to measure supply and demand elasticity. Adaptive expectation theory is used to analysis the effect of economic fundamentals and speculation on housing price. Subsequently, this paper uses the price variation theory to test and judge the core city which can affect others housing price in 14 cities. Based the core city and the features of housing market classification, the paper construct the classification of macro-regulation scheme and propose efficient measures on different market classification from local government angel, such as industrial policies, land policies, housing policies, market management and urban planning. Finnaly,the paper reviews the real estate market macro-regulation policies in China since 2004.It discloses the policy change features and evolution mechanism and propose the policy revelations to XinJiang.The main conclusions are drawn as followings:1.The classification features of XinJiang housing market and the influence factorThe first classification areas conclude Urmqi city and Kashi city,which present the overheat investment, slow growth of demend and high house prices; The second classification areas conclude Hami,Changji,Yinin and Akesu cities,which present the high investment level, fast growth of supply-demend and high house prices; The third classification areas conclude Kelamayi,Shihezi,Tulufan,Tacheng,Aletai,Bole,Kuerle cities, which present the fast growth of investment,low investment level, fast growth of demend and moderate house prices; The fourth classification areas conclude Hetian city which present the low investment level, fast growth of demend and high house prices. It find that the difference of economic structure and urbanization rate is the main affect factor on investment level,the difference of supply and demand elasticity result in the difference of supply-demand relation. On the whole, the rise of housing market is supported by economic fundamentals, which is mainly affected by demand rather than cost. The urban residents income and non-agricultural population are main influence factor of price in different classification market. The influence of land-cost on different market is different.2.The core city of Price Linkage in Xinjiang housing marketThere are core city which can significant effect others price in Three economic areas.The north core city include Ulumqi city and YiNing city, the south core city is Kuerle city, the east core city is HaMi city. The house price of core city is a significant predicator of other cities. The impulse response function shows the price change of core city has significant systematic effect on other cities. These conclusions is important for the Optimization of macro-regulation in XinJiang housing market, which can avoid signal policy but use the major intervention policy to core city. 3.The macro-regulation of XinJiang housing market should in accordance with the principles of classification and optimization.The macro-regulation of XinJiang housing market should comply the principles of local conditions, classification and optimization. The classification of macro-regulation aims at different classification of housing market,which belongs to the regional regulation; the optimization of macro-regulation aims at the core city's housing price fluctuation and impact on non-core city,which belongs to the emphasis regulation. The classification of macro-regulation is basis of the optimization of macro-regulation,the optimization of macro-regulation is deepening of the classification of macro-regulation.The combination of both can improve the performance of macro-regulation in XinJiang housing market.The concrete macro-regulation scheme as follows:the first area is key controlled; the second area is key monitored; the third area is supported; the fourth area is special cultivated. The key monitoring city of house price conclude Urmqi, Kashi,Hami and Yinin cities,which Stable price can stable whole XinJiang housing market.4.Changes of China's real estate market macro-regulation since 2004 and revelations to XinJiangEconomic means failure and real estate legislation insufficiency lead to the real estate marketmacro-regulation rely on administrative measure. The present government management system and land supply system are the resources result in low Enthusiasm of local government. Dividing the real estate market rationally and making different regulation plan of public housing market and private housing market is the evolutionary direction in the future. The performance of XinJiang housing market Regulation is not only rely on the scientificity of regulation but also on the the degree and breadth of system reform. Only the XinJiang government make some difference on land finance reform and ensuring housing supply, the housing market macro-regulation can avoid to follow the same old disastrous road and acquisition remarkable result. The macro-regulation in XinJiang housing market would be a long and important task which XinJiang government must bear.