The bar chart illustrates the percentage changes in average house prices in five cities between 1990 and 2002, compared with the prices in 1989.
Overall, house prices increased in Frankfurt and Madrid during the first period, while the other three cities experienced a decline. However, in the second period, prices rose in most cities, especially in London. Tokyo was the only city where house prices continued to fall.
Between 1990 and 1995, Frankfurt had the highest increase in house prices, at approximately 2%. Madrid also saw a small rise of around 1.5%. In contrast, New York experienced a decrease of 5%. The figures for Tokyo and London were lower, with both cities recording a fall of about 7.5%.
In the following period, London saw a significant increase of approximately 11.5%, making it the city with the highest growth. New York also experienced a positive change of 5%, while house prices in Madrid increased by around 4%. Frankfurt’s figure decreased slightly to approximately 1.5%. Meanwhile, Tokyo continued to experience a decline, although the fall became less severe, at about 5%.