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 bar chart demonstrates what changes the five major cities experienced in average house

prices

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in the period: 1990-1995 and 1996-2002, compared with the average home value of 1989.

Overall

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, it is clearly shown that between 1990 and 1995, housing

prices

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in most of these five cities were lower than in 1989,

while

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in all cities there was an upward trend in average housing

prices

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between 1996 and 2002, with the exception of

Frankfurt

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. During the first 5

years

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, the average cost of houses in Tokyo and London looks the same with approximately minus 7%.

Furthermore

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, New York accounted for 5% of a decrement compared to 1989.

However

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, in Madrid in Spain and in

Frankfurt

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in Germany house costs rose by roughly 2% and 3% respectively. In the

last

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5

years

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(1996-2002) New York's average house price climbed by 5% which was greater than Madrid and

Frankfurt

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's

prices

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. Madrid maintained the price growth and reached around 4% in

this

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period,

while

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Tokyo showed -5% which was a growth compared to the first 5

years

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. Noticeably,

prices

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of the houses in London increased dramatically by more than 10% which was the highest change in the decade.

Finally

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,

Frankfurt

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residence costs reduced to 2% in the

last

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5

years

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