The bar charts give the percentage change in the average house prices from their 1989 levels for two periods between 1990 and 2002, for five different cities.
For the first period 1990-1995, the majority of cities saw a decrease in the average price, whereas most cities’ average house price over the second period 1996-2002 increased relative to 1989.
Tokyo and London saw the biggest drop in house prices over 1990 to 1995 (7.5% below their 1989 averages). New York fared not much better with a 5% drop. Madrid and Frankfurt both appeared unscathed by the falling prices in other major cities, and saw slight increases of 2% and 2.5% respectively.
The average prices taken over the second period had risen in all cities, bar one (Tokyo’s), above their 1989 averages. London’s had jumped to 12% above its 1989 average, and New York’s to 5%. Madrid’s continued to rise, albeit relatively slower than New York’s, to a 4% increase. Frankfurt’s average price had lost some of its gains since the previous period (from 2.5% to 2.0% above the 1989 level). Meanwhile, despite a 2.5% rise since its 1990-95 average, Tokyo’s average price remained 5% below its 1989 average.