Urban real estate market differentiation requires vigilance against the risk of volatility propagation. Research methodology: Based on the network analysis perspective, we quantify the “ripple” effect of house price, report the characteristics of the network structure, and conduct empirical research on the effect of the old neighborhood renovation policy. The study finds that: urban house price trend guidance and volatility propagation modes are different, and there are significant differences in the mechanism paths and cluster distribution of the two; urban house price trend changes are characterized by economic and geographic clusters, with first-tier urban agglomerations playing a leading role in the overall situation; the house price volatility “ripple” network is segregated in terms of city levels, while there is close inter-regional connection, with the second-tier cities playing a leading role in the overall situation. The second-tier cities' house price fluctuation spreads the intermediary and net spillover influence significantly, the central and eastern regions are the net spillover region of the “ripple”, and the two-way cycle of house price fluctuation in the northeast and western regions is worth paying attention to. The renovation of old neighborhoods has an inhibiting effect on the risk of fluctuating house price spillover, and urban renewal at this stage helps consolidate the “firewall” of house price fluctuation propagation and strengthens the resilience of real estate market development.
WANG Xue-biao, ZHANG Xin, LI Shu-yin
. Housing price ripple propagation and the inhibiting effects of urban renewal[J]. Urban Problems, 2024
, 348(7)
: 22
-32
.
DOI: 10.13239/j.bjsshkxy.cswt.240702
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