The Influential Factors And Empirical Research On Urban Housing Prices From Our Country

The real estate industry has become an important pillar industry of China after the development in the past decade, the market system improved on. The housing industry has become the hot spot of consumption and economic growth point. However, with the prosperity of the real estate market, the market itself seems to be out of our control. On one hand, the prosperity of it does boost the growth of the economy; on the other hand, it prevents many people from realizing their dream of possessing their own houses. The high price of houses has become one of the hottest problems in the society. Usually, academic researches on houses market can be seen in numerous magazines. As a result of such theoretical deficiency, the government policies and decisions made by enterprises concerned are far from satisfactory, due to unavailability of effective scientific grounds and technical support. Owning to this, houses buyers cannot gain effective guidance. All these have brought negative effects on the healthy and sustainable development of the nation's housing industry.Taking the residential prices as the study object, primarily analyzes the affecting factors of house price from demand and supply in the current domestic real estate market, which are the main factors that exert important influences on the residential prices. Furthermore, this paper conducts a qualitative and quantitative empirical research on 35 big and medium sized cities from all over the country, revealing its inherent running mechanism.Study on factors affecting the residential prices in this thesis mainly consists of five parts. the first part is mainly summary of domestic and foreign research results of factors influencing the residential prices, and it summarizes the research methods and thoughts, also, it elaborates on related Concepts of residential prices. The second part has analyzed principle of residential prices and the current situation of domestic market in our country. The third part has analyzed the domestic supply and demand factors , and has analyzed the general factors affecting on residential prices. The fourth part has collected data from 2002 to 2006 about 35 big and medium sized cities from all over the country, with the Eviews 5. 1 statistical software. Through the construction of panel data model, we obtain the urban population scale and the household income level is the municipal housing price level major effect factor. Also, comparing the modeling results of three regions (Northern, Central and Southern Region in China),we discover that the major explanatory variables differ from one region to another. Even if the same explanatory factors are influencing residential housing prices in different regions, the explanatory effects still differ from each other. The fifth part, for this article conclusion and the forecast part, summarized the research results and shortcomings of this paper.This article, attempts to discuss the factors that affect the housing prices in the cities of our country with housing prices as a target research. Hopefully, by doing this, an effective house price mode will be developed, which in turn will provide analytical methods for the government regulation and control, business management, credit management as well as for the housing investors.