A Study Of Housing Price Based On Hedonic Price Model

Housing is a necessity of people's life,and its price level has been widely concerned.The research on the urban housing price,such as whether the price is reasonable,the influence factors of the housing price and the method of the evaluation of the real estate industry,is an important issue which should be discussed deeply in the development of the real estate industry.Taking Hangzhou city as an example,we use the data of commercial housing price of a room information posted in Hangzhou price net(http://www.hzjg.gov.cn)and make a comprehensive research on the factors affecting the price of commodity housing price.First of all,the ARCGIS10.2 software and Baidu map coordinate system are used to build the electronic map database of Hangzhou,and make descriptive statistical analysis using stata13.1.Based on the existing literature and descriptive statistics,this paper puts forward four hypotheses and uses the hedonic price model to verify the regression.The empirical results show that under the premise of controlling the commercial housing construction characteristics and the distance to CBD,the accessibility of public transportation and subway have a positive effect on the sales price of new commodity housing;hospital,school district house and park have a positive effect on its commercial housing sales price,the cinema has a negative impact on prices,this is because in the case of convenient traffic,people's demand for the accessibility of the cinema is less than the negative impact of congestion,noise,etc.Finally,as an important scenic attraction in the Hangzhou city,West Lake has a significant premium effect.The sales price of new commodity housing surrounding the West Lake area will be significantly higher than other housing.But those surrounding the boundaries of the distric will be significantly lower than other housing.It reflects the city boundary effect,that is to say housing located in the administrative boundaries may lead to lower prices because of inconvenient access to public services.