scholarly journals Analysis on the Housing Price Relationship Network of Large and Medium-Sized Cities in China Based on Gravity Model

2021 ◽  
Vol 13 (7) ◽  
pp. 4071
Author(s):  
Guancen Wu ◽  
Jing Li ◽  
Dan Chong ◽  
Xing Niu
Keyword(s):  
Gravity Model ◽  
Network Structure ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Urban Housing ◽  
Price Relationship ◽  
Relationship Network ◽  
The Individual ◽  
Integration Degree

The relationship among cities is getting closer, so are housing prices. Based on the sale price of stocking houses in thirty-five large and medium-sized cities in China from 2010 to 2021, this study established the modified gravity model and used the method of social network analysis to explore the spatial linkage of urban housing prices. The results show that: (1) from the overall network structure, the integration degree of housing price network in China is still at a low stage, and the influence of housing price is polarized; (2) from the individual network structure, Beijing, Shanghai, Shenzhen, Nanjing, Hangzhou, and Hefei have a higher degree of centrality. Chengdu, Xining, Kunming, Urumqi, and Lanzhou stay in an isolation position every year; (3) from the results of cohesive subgroup analysis, different cities play different roles in the block each year and have different influences on other cities. (4) Emergencies, such as outbreaks of COVID-19, also have an impact on the housing price network. Structural divergence among urban housing prices has become more pronounced, and the diversity of house price network has been somewhat reduced. Based on the above findings, this paper puts forward some recommendations for the healthy development of housing market from the perspective of housing price network.

Study on Commodity Residential House Price Volatility of the Guanzhong Urban Agglomeration Using Spatial Econometric Analysis

2014 ◽  
Vol 638-640 ◽  
pp. 2436-2441
Author(s):  
Feng Lan ◽  
Ying Tian
Keyword(s):  
Housing Prices ◽  
House Price ◽  
Great Influence ◽  
Housing Price ◽  
Price Volatility ◽  
Urban Housing ◽  
Urban Agglomeration ◽  
Spatial Econometric ◽  
Residential House ◽  
House Price Volatility

This paper was based on the theory of spatial econometric model. It selected the panel datas of the guanzhong urban agglomeration of five core cities from 1998 to 2012, and inspected the commodity residential house price if there is a space dependency relationship between the two cities. On the basis to analyze the main factors influencing the commodity residential house price volatility and research on the influence of the housing price direction. Results show that the sample is significant spatial correlation between urban housing prices. Xi 'an have great influence on regional cities housing price. The urban population, household disposable income, land acquisition costs, sales area are the main influence factors affecting housing price volatility.

scholarly journals The role and significance of planning in the determination of house prices in Australia: Recent policy debates

2021 ◽  
pp. 0308518X2198894
Author(s):  
Peter Phibbs ◽  
Nicole Gurran
Keyword(s):  
Land Use ◽  
Housing Market ◽  
Land Use Planning ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Evidence Base ◽  
Urban Housing ◽  
Price Inflation ◽  
Depth Analysis

On the world stage, Australian cities have been punching above their weight in global indexes of housing prices, sparking heated debates about the causes of and remedies for, sustained house price inflation. This paper examines the evidence base underpinning such debates, and the policy claims made by key commentators and stakeholders. With reference to the wider context of Australia’s housing market over a 20 year period, as well as an in depth analysis of a research paper by Australia’s central Reserve Bank, we show how economic theories commonly position land use planning as a primary driver of new supply constraints but overlook other explanations for housing market behavior. In doing so, we offer an alternative understanding of urban housing markets and land use planning interventions as a basis for more effective policy intervention in Australian and other world cities.

scholarly journals Housing Prices in Unregulated Markets: Study on Verticalised Dwellings in Santiago de Chile

Buildings ◽  
2019 ◽  
Vol 10 (1) ◽  
pp. 6 ◽  
Author(s):  
José Francisco Vergara-Perucich ◽  
Carlos Aguirre-Nuñez
Keyword(s):  
Housing Market ◽  
Affordable Housing ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Housing Affordability ◽  
Price Formation ◽  
Land Values ◽  
Santiago De Chile ◽  
Data Transparency

Chile faces a housing affordability crisis, given that most of the population is unable to secure a house. While housing prices between 2008 and 2019 increased by 63.96%, wages only increased by 21.85%. This article presented an analysis of the housing price configuration for the main borough in the country—Santiago. The assessment focused on verticalised housing constructed between 2015 and 2019. The article developed an exploratory study on the price of housing in Santiago to generate a diagnosis to identify the role played by expectations of profitability when configuring price. Based on the information generated, we sought to contribute to the discussion on public policies that advance the development of affordable housing in central boroughs with high urban value, as is the case for Santiago’s borough of Greater Santiago. We hypothesised that profit expectation of real estate developers plays a key role in the housing prices, and an adjustment in the profit ratios might increase the affordability while keeping the housing market above profitable rates. This research addressed the lack of data transparency in the Chilean housing market with archival research, reconstructing costs and earnings from projects based on official registrations of transactions at the borough level. In Chile, the access to investment costs, land values, yields, and house price formation are not publicly available, even though these factors imply that many households are facing severe difficulties in paying for and accessing decent housing.

Residential properties, resources of basic education and willingness price of buyers

2014 ◽  
Vol 4 (3) ◽  
pp. 227-242 ◽  
Author(s):  
Hao Zhang ◽  
Zhong-fei Li
Keyword(s):  
Basic Education ◽  
Housing Prices ◽  
Housing Price ◽  
Educational Resources ◽  
Allocation Mechanism ◽  
Content Type ◽  
Education Resources ◽  
Standards Of Living ◽  
Residential Properties ◽  
The Individual

Purpose – China's resource allocation mechanism in education has become an important factor in determining residential access to educational resources. The purpose of this paper is to analyze the impacts made by the individual natures of buyers, the external environment, as well as the characteristics of residential properties on the willingness price of buyers. The study's aim is to lay theoretical foundations for the determination of problems related with the matters under consideration. Design/methodology/approach – Using the panel data of 54 districts and counties in Beijing, Shanghai, Guangzhou and Shenzhen, the study unifies macro factors and micro factors in a model for empirical analysis. Findings – Basic education resources can affect housing prices via the “capitalization of education.” The degree of those educational resources’ influence on willingness price changes according to personal income levels, standards of living, housing price fluctuations, the convenience of the residential area and the degrees of urbanization in a district. The greater the buyer's income and standard of living is, the higher is their willingness price. Buyers in urbanized areas prefer increases in educational resources. Increased educational resources increase the values of residential downtown areas. In developed areas with private educational facilities, the role of educational resources in influencing property prices is relatively small. Originality/value – This paper uses data concerning the consumption and investment of residential properties to build a theoretical model for the willingness price of buyers. It unifies macro factors and micro factors in a single model and presents new results about basic education resources and the willingness price of buyers under different conditions.

scholarly journals School Desegregation and Urban Change: Evidence from City Boundaries

2012 ◽  
Vol 4 (1) ◽  
pp. 85-108 ◽  
Author(s):  
Leah Platt Boustan
Keyword(s):  
Public Schools ◽  
Metropolitan Areas ◽  
Housing Prices ◽  
Housing Price ◽  
Urban Housing ◽  
Urban Residents ◽  
Urban Residence ◽  
Tax Base ◽  
Central Cities ◽  
The City

I examine changes in the city-suburban housing price gap in metropolitan areas with and without court-ordered desegregation plans over the 1970s, narrowing my comparison to housing units on opposite sides of district boundaries. Desegregation of public schools in central cities reduced the demand for urban residence, leading urban housing prices and rents to decline by 6 percent relative to neighboring suburbs. Aversion to integration was due both to changes in peer composition and to student reassignment to nonneighborhood schools. The associated reduction in the urban tax base imposed a fiscal externality on remaining urban residents. (JEL H75, I21, I28, J15, R23, R31)

scholarly journals House Prices and Macroprudential Policies

2020 ◽  
Vol 20 (291) ◽  
Author(s):  
Bhupal Singh
Keyword(s):  
Strong Influence ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Macroprudential Policies ◽  
Regulatory Changes ◽  
Downward Pressure ◽  
Level Data ◽  
Housing Assets

This paper examines the efficacy of macroprudential policies in addressing housing prices in a developing country while underscoring the importance of fundamental factors. The estimated models using city-level data for India suggest a strong influence of fundamental factors in driving housing prices. There is compelling evidence of the effectiveness of macroprudential tools viz., Loan-to-value (LTV) ratio, risk weights, and provisioning requirements, in influencing housing price movements. A granular analysis suggests an even stronger impact on housing prices of a change in the regulatory LTV ratio for large-sized vis-à-vis small-sized mortgages, which buttresses their potency in fighting house price speculations. A tightening of the risk weights on the housing assets of banks causes significant downward pressure on house prices. Similarly, regulatory changes in standard asset provisioning on housing loans also influence house prices.

scholarly journals The House Price Dynamics and the Macro-Economy: an Empirical Perspective of UAE

2019 ◽  
Vol 2 (1) ◽  
pp. 28-33
Author(s):  
Yahya Hamad Al Zaabi ◽  
Genanew Bekele
Keyword(s):  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Future Research ◽  
Hedonic Price ◽  
Policy Makers ◽  
Empirical Perspective ◽  
House Condition ◽  
Internal And External Factors

Objective: The paper aims to examine house price drivers in Dubai, addressing the effect of internal and external factors afecting house prices   Design/methedology/approach: Using the Hedonic price model, the study examined the implications of house size (space), the availability of bathrooms, bedrooms, waterfronts, and pool and cell phone towers within residential area as auxiliary determinant factors to housing price within developed cities by using the Hedonic Modelling. Also, study highlight the effect of the green strategies that been followed by developer on the housing prices.   Findings: The study is expected to reveal results with significant ramifications for researchers, practitioners and policy makers. From a policy perspective, there is an obvious interest in understanding whether the price of housing is affected by different attributes differently along its distribution.   Research limitations/implications: The data used in this study could be limited, and depends on information to be provided by the Dubai Land Department. There is a room for future research to include more data (such as on other house attributes such as house condition, plot numbers and configuration).

scholarly journals A model to Estimate the Implicit Values of Housing Attributes by Applying the Hedonic Pricing Method

2017 ◽  
Vol 4 (2) ◽  
Author(s):  
TD Randeniya ◽  
Gayani Ranasinghe ◽  
Susantha Amarawickrama
Keyword(s):  
Sri Lanka ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Hedonic Pricing ◽  
Pricing Model ◽  
Urban Neighborhood ◽  
Location Factors ◽  
Property Development ◽  
Housing Attributes

Many scholars focused on the location based attributes rather than the non-location factors in decision making on land prices. Further, new research studies have identified the importance of the non-location attributes with the location factors. Many studies suggest that, many attributes exist which affects the housing price. Since the attributes involved and dominant for a particular case differs from one situation to the other, there cannot be an exact list of attributes. Yet, identification of factors that determine housing price and their relationships and the level of influence have poorly understood in planning and property development in the context of Sri Lanka. This study attempts to address what make householders to decide on housing price and application of hedonic pricing approach to estimate the implicit price of housing attributes in context of Sri Lanka. A sample study of selected fifty (50) single house transactions in Maharagama urban neighborhood area has been utilized to illustrate the applicability of the hedonic pricing model. As a methodology, correlation analysis has been carried out to study the degree of relationship between the housing price and the independent variables. The attributes which correlate with housing prices, the study identified the most significant attributes. A model was developed to estimate the future house price by applying the pricing model which is incorporated with these attributes. A hedonic house price model derived from multiple liner regression analysis was developed for the purpose. The findings reveal that six attributes as design type of the house, distance to the local road, quality of Infrastructure, garden size, number of the bed rooms and property age are contributed to estimate the implicit value of Housing property. The model developed would be used to identify implicit values of houses located in urban neighborhood area of Sri Lanka.

Research on the Formation Mechanism and Dynamic Factors of Commercial Housing Prices Based on the Correction Carey Model - Panel Data from Thirty-Five Key Cities

2013 ◽  
Vol 291-294 ◽  
pp. 1318-1322
Author(s):  
Feng Lan ◽  
Qian Gu
Keyword(s):  
Panel Data ◽  
Fixed Effects ◽  
Housing Prices ◽  
Housing Price ◽  
Dynamic Factors ◽  
Commercial Housing ◽  
Real Estate Prices ◽  
The Individual ◽  
Two Stages ◽  
Price Analysis

Since 2004, a nationwide commercial housing prices showing explosive growth, This paper use the Carey model studying the volatility of commodity housing price mechanism theory. By Carey theoretical correction model in 1998-2003 and 2004-2010, respectively, in two stages to establish the individual fixed effects and individual random effects panel data model focused on the monitoring of the Ministry of Construction of the 35 cities of the empirical testing of commercial housing price. Analysis concluded that the cost of land, building costs, per capita disposable income of urban residents, urban population, and psychological expectations is the main factors to promote China's real estate prices.

scholarly journals THE NEXUS BETWEEN HOUSING GLUT, ECONOMIC GROWTH, HOUSING AFFORDABILITY AND HOUSE PRICE IN MALAYSIA

2019 ◽  
Vol 17 (9) ◽  
Author(s):  
Yip Chee Yin ◽  
Au Yong Hui Nee ◽  
Abdelhak Senadjki
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Housing Prices ◽  
House Price ◽  
Housing Price ◽  
Housing Affordability ◽  
Common Belief ◽  
Bubble Bursting ◽  
Two Factors ◽  
Unit Increase

This paper analyses [1] the relative impact of housing affordability, housing prices and gross domestic product on housing glut, [2] the effects of housing glut on the health of housing market and then [3] suggestion of solutions to mitigate the risks of housing bubble bursting. Results show that housing affordability and housing price exert very mild effect on housing glut contrary to the common belief that these two factors have significant effect on housing glut. In terms of number, our results show that economic growth contributes about 0.15 negative impact on housing glut for every unit increase in economic growth while each unit increase in housing price can increase housing glut as much as 0.0054 unit.

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