The Research On The Relationship Between House Price And Land Price Of Fuzhou City Zone

By understanding of the real estate theory, this paper studies the relationship between house price and land price in Fuzhou city zone.Firstly, the paper analyzed the basic operation circumstances of the real estate.Secondly, a logical judge about the change of house price and land price has been maken,which it weather assort with the markup of land,house market and economy. Thirdly, based on the data, which including the house price and land price of over three hundred resident samples in fuzhou city zone, the paper employed the Kriging methodology and the granger causality test which based on ECM model to explore the spatial-temporal rule about the relationship between house price and land price.The conclusions as follows: (1) During the period of 2001-2005, the rising speed of house price is slightly faster than the average markup in our country, which was generally assorted with the economic level ,but the rising speed overstepped the rational scope, and the markup of land price was much too higher than the house price and the average level, so it is necessary to be controled. (2) The markup of land price has an inverse proportion with the land level. The lower land level has the faster rising speed of house price. (3) The higher grade land, the higher proportion of land price in house price, the greater influence of land cost in house price. (4) In the short period of term (the lag step is 1-3),there is a granger causality between house price and land price.The coefficients of ECM model indicate that the effect of house price on land price is greater than the effect of land price on house price.When lag step is 4,the house price become a unilateral Granger causality toward land price; when the lag step is 5,the land price become a unilateral Granger causality toward house price. (5) the markup of land price is an of most important factor for the fast rising of house price,but not determinative factor.Recently, the synthesis action of multi-factors resultes in the greater markup of house price.