The Calculation Of House Price Index Studies Based On Two Models Of Kunming

Real estate as the basis of the national economy and guiding industry has a significant influence on the social and economic development, especially in recent years, China's real estate industry develop rapidly. Along with the increase of income, real estate trade has become increasingly active in the real estate industry risk also increases. In order to ensure the sustained and healthy development of the real estate industry, must establish an effective market analysis and risk early warning system, cool and objective analysis of the market in order to ensure that market participants to accurately grasp market trends, self-interest can be achieved. Real estate price index, which reflects the trends and changes of real estate price in a certain period with the relative number of levels index, is the real estate market price indicator. As one of the effective tools to study the real estate market, many academics, economists and market participants begun to concern about real estate price index more and more.This paper takes two most widely used real estate price index compilation method: hedonic price model and the repeat transactions model method to analyze the two methods in the House Price Index prepared, summary, based on a the two models used. First, use the hedonic price model to analyze the trading cases within the study area, establish the hedonic price model to calculate the variable of the hedonic price, and then use the hedonic price model to correct the trading case price into the standard price. Second, use the idea of repeated transactions, trading cases are grouped, all cases within a group regarded as the standard transaction price of a property at different times using repeat transactions model to calculate the price index. In short, use of hedonic price model to deal with transaction data, use the repeat transactions model to calculate price index. Use of hedonic price model to handle different real estate transactions, it can be understood as having the same characteristics of the real estate in different periods of the transaction, thereby overcoming the real estate as individual, leading to repeated trade case rare defects, and a concentrated expression of the advantages of two methods to improve the accuracy and applicability of the price index.In this paper, the transaction case in the second half of2011in Kunming, the preparation of three price index, found by comparing the integrated use of two models compiled the index can improve the shortcomings in the preparation of index separately using a method to improve the accuracy of the index.