The bar chart illustrates the changes in average housing prices in New York, Madrid, Tokyo, Frankfurt, and London in twelve years compared with the average house prices in 1989.
As it can be seen in the graph, from 1990-1995 the negative percentage change was seen in three cities: New York, with 5 percent change, Tokyo, and London, both with 7 percent change. Two cities with positive percentage change were Madrid, with 1 percent, and Frankfurt, with 2 percent change. Between 1996-2002, however, the positive percentage change was seen in four cities. New York experienced a rise in the housing prices, with 5 percent average. Madrid also saw an increase, with 4 percent changes. London house prices surged to around 12 percent above the 1989 average. Prices of house in Frankfurt changed insignificantly. Tokyo’s house prices were also cheaper than they were in 1989, with 5 percent change.
Overall, housing prices went up in the most of the cities, where London saw a significant increase.