The bar graph compares the percentage change in average house prices in five major cities between two periods (1990-1995 and 1996-2002), using 1989 as the base year.
Overall, house prices in Tokyo declined in both periods, while prices in the other cities showed mixed trends. The most noticeable feature is the sharp increase in house prices in London between 1996 and 2002.
Between 1990 and 1995, house prices fell in most cities compared with 1989. New York experienced a moderate decline of about 5%. In contrast, Madrid saw a slight increase during this period. Tokyo recorded the largest decrease, indicating very low demand for housing. Frankfurt also showed a small rise, whereas London experienced a noticeable fall in house prices.
From 1996 to 2002, house prices generally increased in most cities. New York and Madrid both rose by around 5%. Although Tokyo’s population grew slowly, house prices there continued to decline and did not follow the upward trend seen in other cities. London experienced the most dramatic growth, with house prices increasing by approximately 12%.
In summary, while Tokyo consistently saw falling house prices, London recorded the strongest growth, particularly in the later period.