An Empirical Analysis Of The Impact Of The "Multi-School Zoning" Policy In School District Housing Trading

The policy of primary school registration through "nearby enrollment without examination"gives birth to school district housing.The premium of school district housing is the capitalized performance of high-quality education resources.The purpose of the policy of primary school registration using "multi-school zoning" matching method is to increase the uncertainty of the relationship between schools and housing by obscuring the one-to-one correspondence between school district housing and high-quality educational resources,and reduce the pursuit of buyers for school district housing,so as to achieve the purpose of equalizing housing price in the district and stabilizing the transaction of school district housing.Taking Dongcheng district and Xicheng district of Beijing as examples,this essay uses the difference-in-differences model to study the changes of housing price and transaction volume under different educational quality before and after the implementation of "multi-school zoning" policy,and to explore and verify whether the changes of price and transaction volume of "school district housing" are consistent with the policy expectations.Beijing,a national demonstration city of compulsory education,which set a number of high quality education resources,choose education highland in Dongcheng district and Xicheng district of Beijing as the research objects,has the greatly strengthened inspection representative policy effect,the results can be applied as a model to other administrative region in Beijing and other cities across the country,in order to further the education fair reform to provide reference for policy implementation effect.As far as the research content,based on the stage of compulsory education among the primary school entrance process,this paper discusses the current situation of the education fairness in China,after the analysis of the internal quality education resources distribution in Beijing and defined based on the characteristics of price theory and the theory of supply and demand for the school district housing premium features such as study.Dongcheng district and Xicheng district are selected as the research objects,and the enrollment plans and brochures of all primary schools in the two administrative regions are collected,from which the corresponding relations between communities and schools before and after the "multi-school zoning" policy in the two administrative regions are summarized.Based on the web crawler method,the secondhand housing transaction data of Dongcheng district and Xicheng district of Beijing from 2017 to 2020 are collected for grouping research and empirical analysis.Because "school district housing"is a scarce resource,and the implementation period of the "multi-school zoning" policy itself is not long enough for observation,many buyers take a ’wait-and-see attitude’,so the real impact of the policy on the transaction volume is more related to the transaction price of housing.The expected research hypothesis of this paper is as follows:"Multi-school zoning" policy for the school district zoning prices will affect,but the impact is divided into two directions,the policy make the housing prices which education resource quality turned better rose slightly,transaction volume rose slightly too,in the opposite,the housing price which education resources turned worse decline sharply,and volume rose as well,eventually the policy effect achieves the result of district housing price equalization,but it only shows limited effect on the transaction volume.On the process of empirical analysis,this paper using difference-in-differences model,approximate single transactions into the community average price so as to get a standard panel data,and use both the method of mixing effect and fixed effect comparison.During the study,this essay take Dongcheng district as research example,and divide all samples into two experimental groups and take the samples with unchanged educational resources as control group.The multiple linear regression method is used to verify the degree and direction of the influence of variable policy on the transaction price and volume of the explained variable community after the policy impact time point,so as to obtain an approximate estimate of the actual implementation effect of the policy.Finally,the variable housing age related to the architectural characteristics of the house itself was selected for heterogeneity analysis,and the research conclusion was drawn that the influence of policy on the samples of different housing ages was different.Finally,after analyzing the empirical conclusions,this essay proposed its own proposal to the implementation of fair education resources.The author thinks that fair education resources only solved by real estate policy regulation and the changing of entrance regulation cannot solve the basic problem at all.At the root,the government should also improve the quality of teacher-team and regulate the spatial distribution of high-quality education resources to thoroughly solve the problem of fairness.The policy of "multi-school zoning" has been proved to be effective,but it only affects the real estate market to a certain extent.It cannot fundamentally solve the problem of educational equity to avoid the economic losses of buyers caused by the overheated concept of"school district housing" and the excessive pursuit of parents for the sky-high "school district housing".