House prices

The given chart presents changes in mediate house values in five diverse cities (New York, Madrid, Tokyo, Frankfurt, London) between 1990 and 2002 in relation to the average house prices in 1989.

Overall, as we can see average house costs in all the cities altered as opposed to 1989 prices. Majority of these cities' prices went down in 1990-1995 and, visa versa, in the almost all cities average costs of the houses substantially rose up in the period 1996 to 2002.

There is shown that in 3 cities (New York, Tokyo and London) estate prices significantly decreased in period 1990 to 1995. But remained 2 cities such as Madrid and Frankfurt depicts a minor rise in costs of houses compared with 1989 prices.

The average house prices in the period 1990-1995 are in general pretty cheap compared to the mediate house values in 1996-2002. In the period 1996 to 2002 average house prices in New York, Madrid, Frankfurt and London considerably went up compared with 1989. Only in Tokyo prices went cheaper than in the 1989. In the second period London shows dramatic rise in average house price as well.