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.
The bar chart illustrates the average house prices in five different cities during 1990 and 2002, in comparison with data in 1989. Overall, the average house prices fell between 1990 and 1995, but most of the cities saw increase in prices between 1996 and 2002. London experienced the greatest change over the 12 year period.
Over the 5 years after 1989, the cost of average homes in Tokyo and London fell by 7%, while New York house prices went down by 5%. In contrast, Madrid and Frankfurt house prices rose by 2% and 3% respectively.
Between 1996 and 2002, London house prices jumped to around 12% above the 1989 average. Similarly, house prices in New York , Madrid and Frankfurt rose by 5%, 4% and 1% respectively. However, average house price in Tokyo remained cheaper than they were in 1989.
In Summary, average home prices in all cities experienced growth except Tokyo , while, London experienced the greatest change over the 12 year period after 1989.
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