The Research On The Influence Of Local Public Goods Supply On Gouse Price And The Difference Between Cities

As the main part of the real estate market,the development of housing market is closely related to the economic operation and people's life in China.At present,China's housing market is in a critical period of adjustment,high house prices,city differentiation and other issues are increasingly prominent,which has seriously affected the social stability and urbanization process.With the rapid growth of China's economy,the impact of local public goods on the housing purchase and housing prices of urban households in China is increasingly prominent,which is undoubtedly that local public goods are inseparable from the development of the housing market.At the same time,local public goods as an important factor causing population migration,indirectly exacerbating the problem of housing prices differentiation in China.So,the study of the impact of local public goods supply on housing prices and differences between cities is useful on helping the government to form forward-looking control policies and methods.Firstly,through the research of Tiebout model and other related theories,the paper discusses the influence mechanism of local public goods on house prices and deduces the benchmark regression model.Secondly,it describes and analyzes the current situation of housing market and local public goods supply in China,and makes a preliminary judgment.Then,this paper constructs the econometric model and select variables,and using the panel data of 70 large and medium-sized cities in China from 2006 to 2015 as sample to analyze the impact of local public goods supply on housing prices from three aspects: the impact of local public goods supply on housing prices,the impact of different types of local public goods supply on housing prices,and the impact of the same type of local public goods supply on housing prices in different levels of cities.The empirical results show that the supply of local public goods has a significant positive impact on house prices.In terms of supply structure,public transport resources have the greatest impact on housing prices,followed by cultural and educational resources and ecological environment resources,while the impact of medical and health resources on housing prices is not stable.In the difference between cities,from the fourth and fifth line city to the first line city,the influence of local public goods supply on housing prices is higher and higher,indicating that urban residents in the purchase of local public goods with the improvement of economic level and gradually improve the degree of attention,the market from just need to improve the demand for change.Finally,through the analysis of the empirical results and combined with China's actual development situation,the paper puts forward some measures and suggestions on how to give full play to the regulatory role of local public goods supply on the housing market,improve the total amount of local public goods supply in China and reduce the differences between local public goods supply cities.