Study On The Spatial And Temporal Effects Of Rail Traffic On Housing Prices In Hangzhou

Because of its efficiency,convenience and non-pollution,rail traffic is very popular in daily life.At the same time,the city location could be improved previously by the rail traffic.Thus it has an important influence on the life of residents.It also influence the surrounding housing prices.Due to the limit of theoretic and the lack of complete data,it is really a pity that conclusions about the relationship between housing market and rail traffic in Hangzhou are always simplex and intuitive.Therefore,this paper studies the impact of rail traffic on housing prices in Hangzhou.Based on the theoretical analysis and literature review,this paper researches the impact of rail traffic on housing prices from two aspects.The first is based on the current time point(2015),the second is based on the continuous period of time.Firstly,it could be figured out that the impact exists or not by using the hedonic price model.If it exists,the effect is positive or negative.Whatever,we also want to know the spatial heterogeneity of housing prices caused by the rail traffic.Secondly,this paper explore the difference of impact between construction period and operation period which is caused by the rail traffic on housing prices.According to the data of housing market from 2007 to 2015 in Hangzhou,conclusion are as follows:We can see that the railways have a significant impact on the housing price in the whole city for this present.This impact is a negative one.When the closed subway station is in the range of 300 meter to 600 meter,this impact is at its maximum.Otherwise,the impact of railway is not heterogeneous in the spatial.It means the residents lived on suburbs depend on subway more than the urban centers'.The paper show the brief introduction of Hangzhou Metro Line 1 and the various effects along the line.In the other hand,the influence during the construction period and the one during the operation period are apparently different.During the construction period,housing prices will be improved when the railway station is in the range of 300 meters.During the operation period,housing prices will be improved when the railway station is in the range of 600 meters.Generally speaking,the impact of rail traffic in the operation period is bigger than it in the construction period.