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.Summarise the information by selecting and reporting the main features and make comparisons where relevant.
The given chart depicts the changes in houses’ prices during two spans of periods, 199o-1995 and 1996— 2002 and compares with the data in 1989.
Overall, except Frankfurt, all cities have shown an upward trend in the percentage of change in house prices for the whole time.
In 199o-1995, prices of houses in Madrid and Frankfurt increased by 2-3%, whereas prices in NewYork, Tokyo and London were around 5 to 7.5% lower than the prices of 1989.
Furthermore, with the next period, Frankfurt’s house prices decreased to 2% compared to 1989 house prices. The prices of houses in London were amounting to 12% about twofold the houses’ costs in New York. Madrid prices were now 4% higher as compared to 1989. In Tokyo, the only city to remain showed a negative trend; prices were still below 1989 levels, standing -5%.
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