The chart below shows changes in average house prices in five different cities between 1990 and 2002 compared with the average house prices in 1989.

The provided bar chart gives data on how the average prices of real estate were changing in New York, Madrid, Tokyo, Frankfurt and London over 12 years from 1990 to 2002 in comparison with the average

house

cost in 1989. It is measured in percentages. In brief, it is evident that at the beginning of the nineties, people needed a little bit less money in order to become

house

owners, compared to 1989.

However

, a different pattern occurred at the very end of the century when, as the bar chart shows, home prices started to grow. From 1990 to 1995, the average

house

price was around 5%-8% lower than in 1989 in New York, Tokyo and London,

while

in Madrid and Frankfurt, the numbers increased by approximately 2% and 3% respectively. When it comes to the 1996-2002 period, only in Tokyo it was still more affordable to buy a

house

in comparison with 1989. In the 4 other

cities

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cities,

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the average price of real estate grew moderately, approximately by 2%-5%,

whereas

in London the cost of a

house

skyrocketed by about 12%.