The bar chart compares data on how average houses costs changed in five major countries from 1990 and 2002, relative to the mean accommodation prices in 1989.
Overall, it can be observed that in general, property prices fell down between 1990 and 1995, however majority of cities experienced rising in costs during the remaining period. Notably, London stood out from others by far the greatest changes in housing prices over the 13-year period.
In detail, over the 5 years after 1989, the mean cost of entities in Tokyo and London dropped by about 7%, meanwhile New York denoted 2% less, compared to previous ones. At the same years, the reverse was true for Madrid and Frankfurt, which prices rose by approximately 2% and 2,5% respectively, compared to the 1989 average.
Between 1996 and 2002, almost all cities showed a growth in costs. To be precise, London figures jumped to around 12%, in relative to the 1989 average. Similarly, New York and Madrid homebuyers had to pay significantly more than it used to be, with a rise of prices for 5% and 4% respectively. Both Tokyo and Frankfurt did not faced dramatic changes, specifically the cost of an average home in the former country remained cheaper, while the later one rose by a further 2%.