Factors and Spatial Variation Research of Housing Price——Based on Geographically Weighted Regression Model
Lijuan Wang
Abstract
Lijuan Wang
Abstract
Hedonic house price models typically impose a constant price structure on housing factors throughout an entire market area.However,there is increasing evidence that the prices of many important factors vary over space.The Geographically Weighted Regression(GWR)of the spatial non-stationary model is used to explore the factors that impact on the housing price in Chongqing urban areas.The result was compared with OLS model.It demonstrated that GWR model was better than the OLS model.The relationships of housing price and factors changed with space position positively and negatively.Therefore analyzing the causes of housing price according to the local conditions is necessary for optimizing the spatial structure of housing price and guiding the orderly expansion of city.
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Hedonic house price models typically impose a constant price structure on housing factors throughout an entire market area.However,there is increasing evidence that the prices of many important factors vary over space.The Geographically Weighted Regression(GWR)of the spatial non-stationary model is used to explore the factors that impact on the housing price in Chongqing urban areas.The result was compared with OLS model.It demonstrated that GWR model was better than the OLS model.The relationships of housing price and factors changed with space position positively and negatively.Therefore analyzing the causes of housing price according to the local conditions is necessary for optimizing the spatial structure of housing price and guiding the orderly expansion of city.
Key concepts: Geographically Weighted Regression, Econometrics, Hedonic pricing, Position (finance), Space (punctuation), Ordinary least squares, Regression analysis, Economics