The Effect Of Housing Accumulation Fund Loans On Housing Price

Real estate industry in China is the main artery of the national economy,and development of it involves more than 40 industries,such as the iron and steel, automobile,banks, building materials and property management service.Real estate price is affected by multiple factors. The scale of housing accumulation fund loans expands unceasingly in the influential factors,and the impact on housing prices also increase.Therefore,the object of this article was the effect of housing accumulation fund loans on housing price.This article was based on the analysis of the theory of the housing accumulation fund and the theory of real estate prices. It illustrated the related concepts and features of the housing accumulation fund and real estate. It discussed the present situation and problems of housing accumulation fund and real estate market in Changsha city comprehensively. Through the field investigation and combined with model analysis, this paper studied the effect of housing accumulation fund loans form 2004 to 2013 in Changsha.The results showed that:(1) Housing accumulation fund loans in Changsha city mainly were influenced by the housing accumulation fund loan interest rates (5 years),the resident population and per capita disposable income,at the same time,the influence of housing accumulation fund loans also affected the housing price.(2)The model of Econometrics were used to construct the effect of housing accumulation fund loans on housing price from 2004 to 2013 in Changsha city.The trend was that each housing accumulation fund loans increased 1 unit,and housing prices rose 110.9395 units.It was in the medium level in our country. Therefore, the result provides a feasible reference and basis to accumulation fund system, Real estate market regulation policy and credit policy in China.