Research On Relationship Between Housing Price And Land Price In Ningbo

From commercialization of housing supply and marketization of land granting, Chinese real estate market keeps a high growth for many years, meanwhile housing price and land price rise dramatically. Due to the relationship between real estate market and national economy, social harmony and people’s livelihood, housing price and land price becomes a common concern by government, industry and academia, relationship between housing price and land price is the focus.Based on full study on existing research work, this paper studies Ningbo around topic about relationship between housing price and land price, applies econometric method and spatial method, proposes the analytical framework of relationship between housing price and land price, reveals the relationship from temporal and spatial aspects. Main study contents including:Based on Granger Causality Theory, constructs Error Correction Model, and researches temporal causality between housing price and land price both in short-term and long-term.Based on Kriging Interpolation Method, reveals the spatial distribution and evolution of housing price and land price, and discusses the reason behind spatial differentiation with urban development status and overall plan.Through the research above, this paper thinks:In long-term, housing price and land price of Ningbo have a equilibrium relationship. In short-term, housing price affects land price more. The short-term volatility of housing price around the long-run equilibrium is relatively stable, but the short-term volatility of land price around the long-run equilibrium is very obvious.In the year 2007-2009, housing price and land price have gradient attenuation which centered at Sanjiangkou district, and have local variations at surrounding focus plate, the local variation of land price is relatively minor, the local variation of ratio of housing price and land price is large. In the year 2010-2011, Eastern New Town plate rises strongly, the center of Ningbo develops eastward, the local variability decreases, ratio of housing price and land price has two peaks at Eastern New Town and Sanjiangkou district.