Housing Price Spatial Diffusion within Urban Region: A Case of Wuhan

This paper investigates the housing price spatial diffusion within Wuhan city by using the quarterly data over the period 2001Q1 to 2009Q1. The Cointegration Test, Granger Causality Test and Generalized Impulse Response Function were employed. The results show that spatial interactions of urban region housing price take place. In the north of Yangtze River, the housing price of "core district" Jiangan has a significant influence on the Jianghan district, and then diffuse to the external districts. In the south of Yangtze River, the housing price of "core district" Wuchang works upon the external districts Hongshan, Qingshan. From the overall perspective of the city, the housing price of Jiangan, the "core district" in the north of Yangtze River, plays an promoting role in housing price of "core district" Wuchang, the "core district" in the south of Yangtze River.