The Study On The Influencing Factors And Regional Differences Of China’s Urban Housing Price

In recent years, our country economy Real estate, as an important industry of thenational economy has achieved an unprecedented prosperity.Trend intensified the realestate bubble, housing abnormal price fluctuations, has affected the normal operation ofthe macroeconomic. However, due to regional differences in economic and socialdevelopment and policies of the lack of coordination, the development of China’s realestate market has a significant regional disparities, the adjustment of house prices andvolatility there are significant regional differences, which in turn affect the regulation ofreal estate unity and balance of policy measures, making the real estate market to achievethe healthy and orderly development of a problem. At present, China’s housing marketoverheating, excessive investment in some areas and there is the phenomenon of highvacancy rates, coupled with China’s land system and not a sound credit system, resultingin high prices, supply and demand contradiction, which is particularly acute in developedregion.China’s housing market has caused a range of issues of state and government attachgreat importance, and topics of common concern to many researchers. The academicsabout the real estate maket development and influence factors has been a large number ofstudies,including the empirical analysis of the fluctuation of housing price,but theanalysis of housing price fluctuation of regional differences in the studies are relativesmall,and based on the different research angles and methods,the conclusions are not thesame.This absorption and extend previous research to China’s35cities for the study ofhousing prices and sub-coastal and inland two different types of samples, regressionmodels using static and dynamic error correction model, the basic measurement analysistool for China’s urban housing prices and the regional differences in the characteristics offluctuation analysis and testing, and based on an empirical model to explain regionaldifferences in price fluctuations the main factors.This article draw the main conclusion: Firstly, housing prices in35cities withsignificant regional differences in volaility; Secondly, coastal open cities and inland cities,housing prices there are essential differences between the volatility of themechanism,costal prices have significant fluctuations in the autocorrelation mechanism,inland cities is obvious mean-reversion tendencies; Thirdly, coastal cities housinginvestment and housing construction costs and other supply factors on the price fluctuations have a significant effect, The inland cities are the main basis of income leveland other factors significantly affect demand.