Analysis of the Impact of Housing Purchase Restriction Policy on Housing Price——A Case of Wuhan City Circle
In recent years,the purchase restriction policy has become one of the important policy tools of the government's macro-control of housing prices.It is of practical significance to study the impact of the purchase restriction policy on the housing prices to promote the sustainable and healthy development of the housing market.Based on the monthly data of Wuhan City Circle from 2010 to 2019,this paper studies the impact of housing purchase restriction policy on housing prices through Panel Vector Autoregression and Impulse Response.The results shows that the introduction of the housing purchase restriction policy has played a certain role in restraining the rise of real estate price in the short term,but its inhibitory effect gradually weakens over time.The housing purchase restriction policy has spillover effect,and the changes of housing prices in core cities under the purchase restriction policy will lead to the fluctuation of housing prices in other cities.
housing purchase restriction policyhouse pricesImpulse Responseinfluencing factors of housing prices
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