Study On The Factors Of House Prices Exports In China

Real estate market in China since 1978, until now already had more than 30 years, increasing people’s attention to the real estate market, the specific performance: the government of the "rules", "second homes", "exemption", etc., control and hedge the risks of real estate investors, housing purchase behavior of consumers. The price of this study is the most direct factors of evaluation of the real estate market, a better understanding of the influence factors of house prices and, is the key to solve the problem of housing prices, is also the focus of the government, investors and consumers.Under the premise of in reference to domestic and foreign research, determining the main influence factors and formation mechanism of the price of the house. Then, this article introduces the development of the real estate market and the regional difference, setting the stage for the following empirical study. This article selects 2003-2014 panel data of 35 large and medium-sized cities, the main research area of land acquisition, population density, per capital GDP, the average disposable income, the influence of real estate investment to house prices, the concrete content is divided into three parts.The first part, the overall analysis of panel data. First using unit root test and cointegration test, optimize the data processing, affecting the bigger of the two indexes, and then use hausman test judgment, decided to use a random effects model of influencing factors were studied. Then estimating the model parameters that influence the influence factors of house prices long-term effects are: land acquisition area, average disposable income, real estate investment; The influence factors of house price short-term effect is: only the land acquisition area is to determine the key factors of error correction model.The second part, different grade cities of panel data analysis. In order to investigate the level of house prices factors, using cointegration test, cointegration relationship model, the results show that: due to the different urban development, influenced by the level of urban economy development level, all indicators have bigger influence on the first-tier cities, for the influence of the second- and third-tier cities.The third part, the housing transfer between different regions. Below respectively in east region, region, examine their spatial correlation between Chinese and western region, SEM model is established and the model of SLM, to determine the role of the interaction between urban property prices and push. Results showed that the housing transfer between different region analysis showing that, things in the east and Midwest have spatial correlation, the eastern region of the central region, the correlation of the eastern region of the western region is bigger. In general, the higher the level of development, the easier the regional house prices affect the area change of the price of the house.To sum up, the whole process of thinking in this paper, the factors affecting prices, in view of the short- and long-term results of different price changes, the government needs to reasonably adjust both short-term and long-term policy, aimed at grade differences in urban property prices, urban property prices adjust direction should be changed, the correlation of prices for different regions, price adjustment of developed areas, relatively underdeveloped areas will follow.