Research On Housing Premium Of Guangzhou School District Based On Boundary Fixed Effect Method

At the stage of compulsory education in China,the system of "enrollment nearby" has been adopted,which results in the quality of basic education resources becoming one of the important factors affecting the price of housing around it.The imbalance of high-quality public education resources has aggravated parents’ behavior of buying houses and choosing schools.The imbalance between supply and demand has become increasingly prominent,which has led to the ever-increasing price of "school District housing".How to accurately measure the premium of school housing in the real estate market has become a research topic for many scholars.Taking Guangzhou as an example,this paper collects micro-data of 248 districts around the housing area of 46 key primary school districts in the central city of Guangzhou.On the basis of the characteristic price model,it controls the unobservable location and environmental factors,as well as the errors caused by the "vote by foot" residential group division.By using the empirical method of comparing house price with rent,it establishes the difference equation and carries out the multiple linear regression.By regression analysis,we can accurately measure the "capitalization" spillover effect of high-quality basic education resources on real estate.And the sample area pairs are divided into two different pairing categories in detail.The pairing areas of "provincial key primary school-municipal key primary school" and "provincial key primary school-ordinary primary school" are paired.The differential regression of house price and rent is carried out,and the results are analyzed to further verify the impact of different levels of schools on house price.The empirical results of this paper show that the quality education resources of provincial key primary schools have a significant positive impact on the surrounding housing prices.After controlling the difference of other conditions of "community pair",the difference regression shows that the premium of school district houses in provincial key primary schoolsis 8.3% higher than that in non-provincial key school districts.At the same time,we focus on the virtual variable "key primary school district housing" has no effect on the "district to" rent difference,which shows that the property of school district housing will not cause rent premium,that is,"group effect" has no significant impact on the premium of key school district housing in the province.After dividing the sample plots into two different pairing categories in detail,the key research object of the "provincial key elementary school-ordinary elementary school" pairing plots is the characteristic variable "provincial key school district house" which has a significant impact on housing prices.Compared with the second-hand housing prices around the ordinary elementary school,the premium of the provincial key primary school district house is 9.3%.This shows that the "provincial key elementary school-ordinary elementary school" pairing plots have a significant impact on the whole housing price.Provincial key school district housing premium contributes more.