Study On The Interaction And Regulation Between House Price And Land Pirce In Hangzhou

In recent years China’s real estate industry is developing rapidly, prices continued to rise, in2012as an example, the average sales price of commercial housing rose sharply, rising8.1%year-on-year in2011. Facing the national house prices high, all the way a lot of people think thatbecause of the change of the land policy, makes the land price rise, thus caused the rise in houseprices, also some people think that is the rise in house prices, and so did the land price, at that time"the relationship between house price and land price" has become the focus of the whole society.This paper is aimed at "the focus between house prices and land prices" to do in-depthresearch, taking Hangzhou city as the research area, research on the interactive relationshipbetween the method of combining the qualitative analysis and quantitative analysis of Hangzhoucity housing and land prices, and based on the analysis, puts forward some regulation HangzhouCity real premium advice.This paper first analyzes the connotation of housing price and land price and its constitution,and in the short-term, long-term analysis, dynamic analysis and the transmission mechanismbetween the four point of theoretical analysis of the relationship between house price and land price.Then from the land market, commodity residential market, land prices movements and houseprices movements and the market there is a problem of the commodity housing market has carriedon the brief analysis of Hangzhou.Then followed on the interaction between housing prices and land prices in Hangzhou werequantitatively analyzed. Select the housing sales price index and the price index of landtransactions in Hangzhou each quarter from2000to2012, conducted a related adjustments, usingGranger causality test, cointegration test, VAR model and VEC model after the establishment ofthe impulse response function and variance decomposition analysis of econometric methods, drawthe conclusion: In the short term (one year), house price and land price are Granger reason ofhangzhou, in the long term, the hangzhou city land price is Granger cause of the price of the house;Hangzhou long-term stable equilibrium relationship between house price and land price; Hangzhouprice changes and in mutual promotion of positive correlation relationship between land pricechanges.At last combined with the previous analysis, from the land market system of land supply andland supply plan of the commercial housing market tax and control aspects of affordable housing puts forward Suggestions for the regulation of hangzhou housing land price, to promote thecommodity housing market healthy and orderly development of hangzhou.