The Study On Hedonic Price Of The Housing Stock Market In Wuhan

Housing problem is closely bound up with people’s life from the ancient time to today. Though the high housing price continues, people’s enthusiasm of purchasing houses keeps going upward, which is generated by the close relations between current real estate market and the economic situation in China.Residential secondary market, also known as house in reservation market, is an important component of real estate market in our country. Wuhan is one of the representative cities whose economic development and real estate market are full of vitality. Due to its comparatively lower price than newly-constructed buildings, houses in reservation are gradually accepted by buyers. Especially in recent years the growing trend of house in reservation market in Wuhan City is very outstanding, so the influences of changes in its price cannot be overlooked. Based on the differences of market price of house in reservation in Wuhan City, the study work of this paper is mainly focused on: Firstly of all, the paper chooses the house in reservation market in Wuhan City as study target. According to the data of house in reservation market in 2014, the paper summarizes the status quo of Wuhan market and makes an analysis of the characteristics of its house in reservation market, through which the paper further concludes its dealing incentives. Secondly, the paper introduces the application of Hedonic model to residential market. It then concludes and analyzes house in reservation market of Wuhan City in detail through theoretical research and empirical application, then combs data in different methods according to property management, architectural features and location types. Lastly the paper comes up with some suggestions on keeping the stable and sustainable development of Wuhan house in reservation market through application Hedonic model to researches on house pricing factors in house in reservation market.The study results in the paper indicate that characteristics of house in reservation market, especially the trait of property management will have significant influence on housing price, less significant than architectural features though. But as the level of property management improves, the price of house in reservation will be increasingly more greatly affected by property management.