The bar chart compares the cost of an average house in five major cities over a period ò 13 years from 1989
Overall, house prices tended to fall in most cities during the first period but increased in the scond period. london experienced the greatest growth, whereas Tokyo was the only city that remained below the 1989 level throughout both period.
Between 1990 and 1995, average house prices fell in three of the five cities. London recorded the largest decrease, at around 8%, followed closely by Tokyo with approximately 7%. New York also saw a decline of about 5%. In contrast, Madrid and Frankfurt experienced slight increases of roughly 1% and 2%, respectively.
From 1996 to 2002, the pattern changed considerably. London witnessed a sharp increase to approximately 12%, making it the highest figure among all the cities. House prices also rose in New York and Madrid to around 5% and 4%, while Frankfurt remained relatively stable at about 2%. Meanwhile, Tokyo continued to show a negative trend, although the decline was less severe than in the previous period, at roughly 5%.