The bar 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 describes the percentage change in average residential prices in five different urban

cities

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(New York, Madrid,

Tokyo

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, Frankfurt, and London) between 1990 and 2002 relative to the base year of 1989.

Overall

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, an upward trend of average housing prices was found in all

cities

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presented except

Tokyo

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and Frankfurt, marking London as the highest incremental among the other

cities

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while

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Madris was the lowest. It is noteworthy that the residential price in London and New York, between 1990

to

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and

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1995, dropped significantly at about 7,5% and 5% respectively compared to 1989, before rising considerably to 12% and 5% consecutively in the period of 1996 - 2002, marking as the highest incremental among the other. Madrid, which had a positive growth at 2,5% in 1995, continued to grow to 4% in 2002. In comparison, some

cities

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suffered a downward trend,

such

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as

Tokyo

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and Frankfurt. Regarding the change in price in

Tokyo

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, it started at 3% higher than in 1989, unfortunately, the growth apparently decreased to 2%. On the positive side, the price stayed higher than in 1989.

On the contrary

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, housing in

Tokyo

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was priced lower than in 1989 at -7% and -5% in 1995 and 2002 respectively.