The Chart Below Shows Information About Changes in Average House Prices in Five Different Cities

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. Summarise the information by selecting and reporting the main features, and make comparisons where relevant.

The chart below shows information about changes in average house prices in five different citiesThe graph represents the median house prices from 1990 to 2002, compared to the average house prices in 1989. It has taken five cities into account for comparing prices.

From 1990 to 1995, the cost of houses decreased in New York, Tokyo, and London, whereas it became more expensive in Madrid and Frankfurt. London and Tokyo saw the most significant dip, more than 5 %, in prices. However, the costs increased by less than 5 % for Madrid and Frankfurt.

The cost for Tokyo continued to decline in 1996-2002, but the declining percentage reduced to 5 %, which means a total of 2.5% less decline than 1990-1995. The prices in London sky-rocketed in 1996-2002. In the former, we can see the prices increased for only two cities, but later, the costs increased for four cities.

Hence, we can conclude that mainly the average prices increase with time. Therefore it is a good investment.

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