The Spatial Correlation And Convergence Of Real Estate Prices In Guangdong And Guangxi

Since 1998, along with the development of housing market, there has been a series of problems and difficulties in housing prices has become the focus of government macro-control. Since the reform and opening up, Guangdong province has witnessed a rapid economic growth, but the province’s economic development is not balanced, the level of development of the Pearl River Delta region is much higher than that of its wings and mountain area. Guangdong province has become one of the most prominent provinces as regional economic gap Chinese, because economic development has great influence on prices, so high prices in Guangdong area are mainly concentrated in the economically developed Pearl River Delta region. The Guangxi real estate economic development although there are no first-tier cities quickly, but the real estate industry in Guangxi is still one of the pillar industries in the current economic development of Guangxi Therefore, it has realistic significance to the study of prices between Guangdong and Guangxi cities have what characteristic.The development level of regional economy is closely related to the price of house price, this paper is based on between house prices and economic existence from the perspective of the theory of interaction, the economic convergence theory properly applied to the study of the real estate market, so as to discuss. Respectively discuss the Guangxi Province 14 prefecture level city,34 cities in Guangdong Province 20 prefecture level city and Guangdong and Guangxi areas between prices whether there is spatial correlation, and further discusses the Guangdong Province and Guangdong and Guangxi areas prices growth is convergence and calculation of Guangdong Province and Guangdong and Guangxi area house price growth in the rate of convergence.This paper collected 14 prefecture level city in Guangxi Province, average price data of 34 cities in Guangdong and Guangxi 20 prefecture level cities in Guangdong Province, makes an empirical analysis. The research is divided into three parts; the first part makes an exploratory spatial data analysis of Guangdong and Guangxi areas around the city’s housing prices, at the same time. The spatial correlation test, the results show that the Guangxi prices do not have the spatial correlation and Guangdong prices and prices in Guangdong and Guangxi in the spatial correlation, and the spatial correlation function significantly affects the neighboring cities housing prices; second part of Guangdong province and two wide area price growth convergence study is carried out through the calculation and analysis of the coefficient of variation and the results show that there is σ convergence Guangxi province prices overall, then it must β convergence; Guangdong province and Guangdong and Guangxi prices does not exist σ convergence, so it needs further verification The existence of P convergence. First in Guangxi Province, Guangdong province and Guangdong and Guangxi prices were estimated by ordinary least squares, but its estimation result is not too ideal, the front has been verified in Guangdong province and Guangdong and Guangxi area residents with spatial correlation, thus the introduction of space model, through the establishment of spatial lag model and spatial error model and analysis of model results verification, Guangdong province and Guangdong and the real existence of P convergence, and through comparing various indicators selection spatial error model is the optimal model, which selects the spatial error model as a result of the final results. The third part, through the speed of convergence of four stages of Guangdong province and the prices in Guangdong and Guangxi and half period (month), coefficient the results of the initial month has been significantly negative, that of Guangdong province and Guangdong and Guangxi all prefecture level city housing price increase in four Stage there are significant absolute P convergence. The estimated from the model results, Guangdong Province and Guangdong and Guangxi region in the initial year of the level of real estate development to a certain extent determines the increase of the prices of convergence, differences in the price level in Guangdong Province and Guangdong and Guangxi areas between the parts of the city is monthly decrease.Finally, according to the conclusions of the analysis, combined with their respective economic level in Guangxi Province and Guangdong Province and the price level are proposed on Guangdong and Guangxi areas how to adjust the prices are too high and narrow the gap between country level city reasonable proposals and relevant policy recommendations.