The Influence Mechanism Study Of Urban Land Price Upon Housing Price

With the rise and development of the real estate industry of our city country, urban construction, local government fiscal revenue, people’s quality of life and economic condition around the city, have obtained rapid development and great improvement. Both housing price and land price also have substantial increase, so that they have been far more than their own values. The central government has issued a series policies, including the supply of land, restricting house purchased policies, but the effect is very small. In the background of the government excessive dependence on land finance, discussing and analyzing the internal influence mechanism of land price about housing price, figuring out the effect on housing price of land price and related factors, have important theoretical and practical significance to the healthy and stable development of China’s real estate industry.After systematically analyzing the literature of Chinese and foreign scholars on land prices and housing price, this paper inherits and innovates predecessors’research results. Based on the general equilibrium model of housing supply and demand, this paper has a creative introduction on residents’ housing speculative demand factor, finally derives a dynamic pricing model of real estate under the condition of the incomplete competition market.In the empirical research stage using data, this paper firstly selects national housing and land price data from the first quarter of 1998 to the fourth quarter of 2012, using error correction model and Grainger Granger causality test to study the relationship between the two prices, so that the short-term effect of land price on housing price is less than the long-term effect. And both in the long term and short term, these two prices have strong correlation.In order to further analyze the effect of land price and related factors of regional impact on housing price. In this paper, using the constructed dynamic pricing model of real estate under the condition of the incomplete competition market, the author selects annual data of 35 domestic large and medium-sized cities from 1998 to 2012, empirical analysis reveals that, in terms of different regions, from the comparative analysis of the eastern, central and western three different parts, the western land price has a biggest effect on housing price, the middle weak, and the eastern is weakest. The eastern per capita income has a biggest effect on housing price, the middle weak, and the western is weakest. The western first-lagged housing price has a biggest effect on housing price, the middle weak, and the eastern is weakest. The demand pulls housing price rise in the east, but the cost pulls it rise in the west. According to the problems existed in the research, the author puts forward the prospect of the next research.