Influence Of Urban Rail Transit On Commodity Housing Price Along The Line

With the acceleration of urbanization,the population continues to gather in cities and the density is increasing.At the same time,the improvement of the living standards of residents has led to a rapid increase in the number of private cars in cities.The current road can no longer meet the growing demand for travel.In order to improve the current traffic conditions and enable cities to operate efficiently and develop healthily,the construction of urban rail transit needs to be further strengthened.Urban rail transit is a new type of public transportation facility with advantages of rapidity,punctuality,and large amount of traffic,which can effectively solve the traffic congestion problem in the current city and greatly promote the improvement of the entire city's traffic network.The optimization of the transportation network structure can change the location conditions of the real estate around the subway and effectively stimulate the development of the surrounding areas.Studying the relationship between rail transit and real estate prices can provide scientific references for real estate development companies,government departments,and home buyers.It has far-reaching significance.This article analyzes the literature and combines actual conditions to find out the factors that affect real estate prices,and clarifies that macro factors have little effect on price changes when comparing house prices in the same area.Therefore,when we analyze the same area,we don't consider the influence of macro factors on housing price.From the micro perspective,we choose location characteristic variables,neighborhood characteristic variables and architectural structural characteristics variables as the characteristic factors that affect real estate prices.Combined with the actual data,the paper analyzes the basic situation of Wuhan real estate market from the real estate development investment,housing sales and housing transaction price.Base on the location theory,land rent theory,space agglomeration theory,accessibility equality theory and space interaction theory,Because Wuhan Rail Transit Line 3 has the largest number of transfer stations and the first traffic line connecting Hankou Hanyang Administrative District,it is considered as the object of thisstudy.The accessibility model and Hedonic model are constructed to analyze the impact range and influence effect of Wuhan rail transit line 3 on the value of real estate along the line,explore the law of the price changes of real estate around Wuhan Rail Transit Line 3.In this paper,it is found that the distance between rail transit and commercial housing increases by 1%,which leads to a 8.1% drop in the price of commercial housing.The influence degree of the rail transit distance on the value added of the house price has not been influenced greatly by the degree of decoration(37.4%).The cause may be the difference in the scope of the impact of different rail transit sites on real estate prices.When using the hedonic price model,we will directly study the real estate in the 3km area,resulting in some buildings that are not within the scope of the site,which will weaken the impact of rail transit on housing prices.Then,using the reachability equal calculation model,we further analyze the influence of different rail transit stations on the housing price under the walking and bicycle connection mode.The results show that the regularity of the impact area of the rail transit station on the house price shows the "unsymmetrical gourd" type in space,which is the scope of action of both sides of the site is large,and the scope of the central site is small.The rail transit site has a positive correlation between the radiation range of house prices and the distance from the city center,but it is negatively related to the convenience of traffic and the cost of rail transit.The radiation range of the bicycle connection at the suburban stations are approximately twice the radiation range of the pedestrian connection.There is no significant difference in the radiation range between the two connection methods at the stations which near the center.Based on the above conclusions,different suggestions are given from the perspective of the urban planning department,real estate developers,and home buyers.