Band 7+: 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. Write a report for a university lecturer describing the information shown below. Make comparisons where relevant.

The bar graph represents the data about the variations in the average price of houses in the USA, Madrid, Tokyo, Frankfurt, and London from 1990 to 2002, in contrast with the mean cost of houses in 1989. Overall, the majority of cities experienced a decline in prices in the initial years, as compared to later years, where there was a massive rise in prices, except for Tokyo, which was sustained at a relatively low price.

From 1990 to 1995, the cost of houses rose slightly higher at nearly 2% in Madrid and 3% in Frankfurt as compared to 1989. However, there was a price drop in three countries of 5% in New York, and around 7% drop in Tokyo and London.

Between 1996 and 2002, there was a huge increase in average prices in most countries, like 5% in New York, and below 5% in Madrid. A massive increase in home price in London, which was nearly 12% in contrast with 1989. Although a slight decline in the cost of Frankfurt is seen, and Tokyo price has also dropped to 5% as compared with 1989.