Research on the Fluctuation of Housing Price Under the Housing Purchase Restriction Policy—A Case of Wuhan Metropolitan Area
To understand the direction and extent of housing price fluctuations under housing purchase restrictions,this paper investigates the ripple effect of housing prices among cities under such policies using monthly housing price data from the Wuhan Metropolitan Area and emplo-ying a VAR model.The study reveals that the impact of housing purchase restrictions is a significant factor in housing price changes between cities.When housing prices in"core cities"are affected by policy shocks,the ripple effect influences housing prices in other cities within the metropolitan area.However,the impact of housing purchase restrictions on housing prices is only significant in the short term.
Housing purchase restriction policyHousing price fluctuationsMetropolitan areaVAR model
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