An Empirical Study On The Impact Of Land Supply On House Price In Chongqing City

During the 30 years of reform and opening,China’s economic development has stepped up to a new level,and the level of urbanization has also been improved.The real estate industry has made great progress and become a new growth pole of the national economy.At the same time,the level of house price showed a rapid rise,people can not help worrying that the overheating of the real estate market may be detrimental to the stable and healthy economic development in the future.In view of the overheated real estate market and rising house price,government launched rounds of regulation.Land as the most basic element of the real estate market,land supply in the process of real estate development has a pivotal role.Because of the unique land system in our country,government in the process of control housing prices,the influence of land supply on house price has been paid more and more attention.However,the current study about the impact of land supply on house price mainly focuses on the relationship between land price and house price,also the current domestic and international study about the relationship of land price and house price has not achieved consistent results.So the effect of land supply on house price needs to be further studied,and the impact on house price is analyzed from three aspects: land supply,land supply structure and the way of land supply.It can provide helpful suggestions for government regulation and control of house price.But also conducive to the healthy development of the city and the efficient use of land resources.Firstly,this paper reviews the domestic and international relevant research literature,and summarizes the conclusions about the influence of land supply on house prices.On this basis,it analyzes the merits and shortcomings of the research conclusion.Secondly,theoretically analysis of land supply,land supply structure,way of the land supply impact on housing prices.Then taking Chongqing city as the research object,based on the relevant data of Chongqing City,through diagrams of descriptive analysis,Co-integration test and Granger causality test,this paper respectively studies the influence of Chongqing city land supply,land supply structure and the way of land supply to house prices.It is found that there is a long-term co-integration relationship between land supply,land supply structure,the way of land supply and house price in Chongqing.There is a negative correlation between the previous year land supply and house price,and there is a positive correlation between the land supply structure,way of the land supply and house price.The way of land supply and land supply structure is the cause of rising house price,but the land supply is not the cause of rising house price.At the end of the paper,according to the conclusion of the study,some policy suggestions are given for how to rationally and optimize the use of land to control house price.