Spatial Differentiation Of Residential Price In Wuhan City

With the development of market economy, the problem of residential price has been the focus of society. In recent years, residential price of our country city continuously soars, and the price has showed the situation of spatial differentiation. This study attempts to explore the rules and cause of spatial differentiation on residential price by using GIS technology and the hedonic price theory. Research is carried out mainly from the following aspects:In the theoretical study, through the summary and straightening of the literature at home and abroad, the paper summarizes the theory of residential price spatial differentiation, theory of hedonic price and model, methods of GIS spatial analysis and data interpolation, it provides a theoretical basis and technical support for the empirical study.In the empirical part, the paper takes the main city of Wuhan as the study area, chooses567residential sites in127residential areas as the research object, explores the rules and cause of spatial differentiation on residential price by using GIS technology and the hedonic price theory.Firstly, this paper determines19residential characteristic variables as Hedonic model variables, and quantifies the characteristic variable by comprehensive scoring, dummy variable and other methods.Secondly, this paper makes the residential data vector based on GIS technology and draws isograms and the3-D picture of residential price by spatial interpolation method. These pictures show that residential price of Wuhan decrease in gradient to adjacent region from several sub-centers for spatial differentiation. These also reflect unbalanced phenomena of residential price, the high price area is concentrated in Hankou and the lowest price is in Hanyang.Thirdly, this study analyses the residential hedonic price of Wuhan’s residential price based on Hedonic model. It considers architectural characteristics, neighborhood characteristic and location characteristic in this model, using function to characteristic analysis of residential price. The results of model show that the function has good fitting effect on residential sites. The paper also introduces of implicit price to explain the effect of residential characteristic variables and compares the contribution of three characteristics on residential price.This paper quantitative analyses the influence factors of spatial differentiation on residential price based on hedonic price theory, it changes traditional qualitative analysis method and achieves the distribution of spatial differentiation on residential price through GIS software. It can provide tools and models of quantitative analysis for research on residential price of city, and also can provide the decision-making basis for the government to formulate the relevant price regulation policy, the developers to invest and the consumers to purchase.