Study On The Relationship Between Real Estate Prices And Bank Credit In Hefei,Anhui

Housing is a necessity of life.The change of real estate price and related policies is not only related to the national economic development,but also closely related to the daily life of the people.Bank credit funds run through the development of the real estate industry,which are inextricably linked with real estate prices.According to the "Yangtze River Delta Urban Cluster Development Plan" issued by the State in 2016,Hefei has been incorporated into the Yangtze River Delta Urban agglomeration Plan.As a new generation of economic growth poles.Hefei step into the Yangtze River Delta urban agglomeration coordinated development together with Nanjing,Hangzhou and other large cities.Under the background that the society is optimistic about the investment prospects in the region,the housing price in Hefei has skyrocketed in recent years,and the excessive ratio of house price to income also reflects the false high of the house price from the side.This paper selects monthly data from January 2010 to June 2017 to establish VAR model on the basis of the five variables of real estate price,real estate development loan,personal housing mortgage,land transaction price and 5-year loan interest rate in Hefei and analyze empirically the relationship between real estate prices and bank credit in Hefei.And combining with the practical problems of the real estate prices and bank credit in Hefei,this paper puts forward some policy suggestions to ease the abnormal fluctuation of housing prices in Hefei and to develop Hefei real estate market and credit market healthily.Therefore,the research result of this paper is that it has certain reference value to guide the healthy development of the real estate market for Hefei municipal government that selects credit tools and adjust credit scale according to local conditions and formulates land and housing related policies.The innovation of this paper is mainly reflected in two aspects: the first is the selection of research scope.As the capital city of rapid development,Hefei plays an important role in the development planning of urban agglomeration in the Yangtze River Delta,but in the previous literature,there is little research on the relationship betweenreal estate price and bank credit in Hefei.The Second is empirical research.When analyzing the relationship between real estate prices and bank credit in previous studies,most studies focused on the impact of real estate development loans on individual housing mortgages.In this study,variables such as land transaction price,5-year loan interest rate and so on,which have a significant impact on house prices,are added to make the model more reasonable.