The Housing Price In Wuhan Based On Hedonic Pricing Model

City is the result of human society's long development, and urban house is an indispensable element of the city's production and management. In the market economy, urban house is the important resource which can only be optimally allocated under the market mechanism. Urban house price is the key to the functioning of urban house market. Therefore, it is very important for us to study the influencing factors and the functioning mechanism of the urban house price.Because the housing product is a kind of heterogeneous goods, and has obvious differences between the housing characteristics, which compose using value of the products. Foreign scholars often construct models to study from the aspect of the hedonic price. But domestic scholars mainly carry on qualitative study from the supply-demand relationship, the composition of the housing price, housing policy etc. There is few quantitative research about the housing product attributes. Constructing the housing hedonic price model, calculating the implicit price of the housing characteristics and then analyzing the influencing factors of the urban housing price are the objectives of the thesis.The housing characteristics are mainly divided into three classes: structure characteristic, neighborhood characteristic and location characteristic. On the basis, we have Constructed the theoretic model of the housing hedonic price from the econometrics angle. Combining the reality of the Wuhan City, the author has adopted 263 housing samples verifying the feasibility of hedonic price model, at last chose 17 housing characteristics as the model independent variables. Among them, 7 structure characteristic variables; 3 location characteristic variables; 7 neighborhood characteristic variables. The thesis gains 10 hedonic prices with the logarithm model. The empirical study indicates the impacts of housing characteristics on housing price is different. The greatest one is Construction area, the smallest one is Lake distance.The research about the hedonic price of the urban housing has just make the running at home, and this dissertation is an exploration research in certain meaning. The experiential research is only limited to the city of Wuhan, and the time span of samples is not too long, so the applicability and the dependability of study conclusions research in the future from selection remain to be examined. It is can carry on more experiential and optimizing of model form, the comparisons of market segment method, the applications of hedonic price etc.