Abstract：
In order to discuss the different effects of housing price change on different regions which are different in economy level, housing price, consumption attitude and housing investment demand, this paper systematically analyzes the effect of housing price change on consumption expenditure, consumption level, per GDP, per disposable income and housing investment. By empirical research on the panel VAR model for housing price change on macro economy based on 31 provinces and autonomous regions from 2000 to 2011, it is concluded that there are different responding processes of consumption expenditure, consumption level, per GDP, per disposable income on housing price change, but there is no regional difference in the responding process of housing investment on housing price change. Therefore, local government should analyze the effect of housing price change on macro economy in accordance with practice so as to exert the effective role of real estate industry on national economy.
2014 
