The chart below shows information about changes in average house prices in five different cities between 1990 and 2002 compared with the average house prices in 1989.
The bar graph illustrates data about how average house costs changed over the period of 13 years after 1989.
Overall, it is clear from the chart that from 1990 to 1995, the average house prices in New York, Tokyo and London were less than those in 1989. However, in the next 7 years, the money spent on houses in New York and especially London increased rapidly, while the house costs in Tokyo remained stable.
Over the period of 6 years after 1989, the house prices in London and Tokyo dropped by approximately 7% while the cost of average houses in New York fell down by 5%. In contrast, the residents in both Madrid and Frankfurt had to pay about 2% more than in 1989.
Between 1996 and 2002, London saw a significant change in house prices, the percentage change went up by more than 10%. Besides, similar trends in New York, Madrid and Frankfurt were witnessed. The homebuyers in those countries had to pay 5%, 4% and 2% respectively more than in 1989. Different from the others, the average house prices in Tokyo was still less than those in 1989 although it rose from -7% in 1990-1995 period to -5% in the next 7 years.