Spatial Changes of Urban Housing Prices: Analysis of Traffic Costs Based on Taiyuan

Abstract

In the modern society, traffic costs have become a key factor for residents to choose housing with increasing congestion for urbans. The interaction between housing prices and traffic costs is getting closer. The convenience of traffic and the distance from the schools, hospitals and commercial centres will affect the traffic costs of residents, which in turn will affect the housing prices in urban. In terms of traffic convenience, this paper not only uses the number of bus stations within 1km to measure the bus convenience of housing, but also uses the number of lanes adjacent to the main street to measure the accessibility of street frontage. In terms of medical facilities, while considering the number of surrounding hospitals, the quality of hospitals is distinguished, which makes the traffic convenience of housing and the level measurement of medical facilities more comprehensive and the research results more reasonable and reliable. Through the empirical study of Taiyuan, Shanxi Province, the results show that the traffic costs can explain the price level of 41.7%. For each additional bus station near the residential area, the housing price will increase by 2.1%. For every street number, the housing price will increase by 1.3%. The school will increase the housing price by 7.3%. The distance from the business circle will increase by 3.1% for 1km. For each third, second and first class hospital within 3km of the housing, the price will increase by -0.6%, 1% and 3.2%.