Study On The Factors Affecting House Price Based On Panel Data Model

In recent years, with the rapid development of China's housing industry, the rapid expansion of house investment, house sales increasing year by year, the housing industry has greatly promoted the development of the national economy. At the same time, housing prices grow rapidly. Housing prices in some cities even increase at an annual rate of 20% of the rise, which cause the attention of the government, enterprises, experts and scholars of public media. Now, real estate experts and scholars, financial institutions, real estate companies and government officials more aware that fully understanding the factors which influence housing prices is the key to wise decision-making. Therefore, there is a need to study why prices rise,what are the factors affecting housing prices ,the extent of the impact on the housing prices.Based on the price of residential research, the article tries to deeply study the factors that influence housing prices by the combination of qualitative analysis and empirical analysis. Firstly, interpret the concept connecting with housing prices, research the factors affecting housing prices from the point of qualitative analysis and quantitative analysis, detailed analyze of the factors affecting housing prices and their mechanism.Secondly, on the basis of collecting and collating data,select the city GDP, the urban population, the average wage for urban workers, real estate investment, commercial housing completed in the area, housing area, and other indicators in Hebei Province as explanatory variables, the average per square meter of house sales price as interpreted variable, then establish Panel Data model. According to the model and the related data of 11 cities in Hebei Province from 2003 to 2006, use SPSS software for data-wide regression method (Enter) and the law back (Backward) analysis to determine the variables to explain the impact on housing prices and the degree of influence, has been Regression model, the return of the model test of significance, the analysis of the interpretation and application of the results of empirical analysis to test model of effective and practical.Thirdly, on the basis of the empirical analysis and qualitative analysis, combine with the actual housing market in Hebei Province, put forward measures and recommendations controlling housing prices.Finally, this article summarizes the results of research and study of shortcomings, and future research prospected.