The given bar chart illustrates the comparison of prices in average house in five major cities – New York, Tokyo, London, Frankfurt, and Madrid from 1990 to 2002 compared to 1989. The units are measured in percent.
Overall, between 1990 and 1995, the prices were lower than in 1989, while 1996-2002 shows the exact opposite. Notably, Tokyo is the only city which showed low prices during the periods.
Madrid and Frankfurt experienced a slight rise in prices compared to 1989, just under 5 percent. Other cities, however, showed a decrease: New York was roughly minus 5 percent, while Tokyo and London were relatively the same, slightly below minus 5 percent.
In terms of changes in prices, 1996-2002 shows an upward trend. Almost every city experienced a growth in prices except Tokyo, which remained approximately minus 5 percent, and Frankfurt, which was just over zero. London had by far the most expensive houses, accounting for above 10 percent.