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. Write a report for a university lecturer describing the information shown below.

The chart presents the changes in average house prices across five cities—New

York

,

Madrid

, Tokyo, Frankfurt, and London—over two distinct periods: 1990 to 1995 and 1996 to 2002, compared to average prices in 1989. In the first period, New

York

experienced a modest

increase

of 5%,

while

Madrid

saw a slight rise of 1%.

Conversely

, Tokyo and London faced significant declines, with Tokyo’s prices dropping by 7% and London experiencing an equivalent decrease of 7%. Frankfurt,

on the other hand

, registered a modest

increase

of 2%. The second period showed a notable shift, particularly for London, which rebounded dramatically with an 11%

increase

. New

York

maintained a steady growth rate of 5%, and

Madrid

improved slightly, reaching 4%.

However

, Tokyo continued to decline, though at a reduced rate of 5%. Frankfurt’s growth stagnated, recording only a 1%

increase

.

Overall

,

while

New

York

and

Madrid

showed resilience, London’s recovery was particularly striking, contrasting sharply with the continued decline in Tokyo’s housing market.