| In China, house plays a leading role in the basic necessities of our life. The healthy development of real estate industry is important to national welfare, people’s livelihood and social security. When we discover the veil of housing problem, it is not so difficult to find that the problem is caused by the imbalance between housing supply and demand. As house function is to satisfy human being’s resident needs, housing demand shall be influenced by the changes in demographic characteristics to a large extent. Therefore, it is meaningful to analyze the influence of demographic changes to housing price for Chinese housing market both theoretically and practically.Using the provincial panel data, we take housing price and demographic factors as our research objectives. On the basis of previous research, considering the economic factor, credit factor, housing investment factor, this paper focuses on the influence of demographic changes to housing price. Firstly, we discuss the data characteristics of population, age structure and family size. Then, we build a housing price fixed-effect model with time dummy variables. As empirical results show, average income is still the most important factor. Population, elderly dependency ratio and family size all have a negative effect to housing price. What is more, the elasticity of housing price to family size is larger than that of other two factors. At the end of this paper, we make a analysis of the results and give some relevant policy recommendations. |
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