The line graph illustrates the changes in house prices for Britain, Australia and United states over a period from1998 to2003.
Overall, house p[rice for all three countries experienced a noticeable upward trend throughout the period. The most significant growth was recorded for Britain, followed by Australia while United states increased more gradually. By the end of the period, Britain had become the dominant country.
At the beginning of the period, Britain stood at around 14%, making it the highest among the countries. Australia started at 8%, much lower than Britain while United states was the lowest at 5% among all three countries. Until the middle of year 2002 Britain had flactuated between 7% and 15%, where it was at it lowest at year 1999 and 2001 with 8% and 9% respectively. Australia also flactuated between 7% and 10% until the middle of year 2001. United state followed a steady upward pattern except after 1999 where it experienced a slightly downwards pattern.
At 2002, the increase in britain became more pronounced, reaching 26% by 2003. Australia also continued to grow, climbing to 18% at the end of the period, though it was at its peak in the middle of year 2002 with 18%. Although United states rose at a slower pace, it still ended the period at 7%. By the end of the time frame, Britain recorded the highest figure, whereas United States remained the lowest. Overall, the gap between Britan and Australia remained same, whereas with United States widened over time.
