A comparison of the cost of an average house in five major cities from 1990 and 2002, a 13-year period compared from 1989 is illustrated in the bar chart. Overall, it can be seen that, house prices fell between 1990 and 1995, but most of the cities saw rising prices between 1996 and 2002. In any case, London experienced the greatest changes in house prices over the remainder period.
From 1990 to 1995, the cost of average homes in Tokyo and London dropped by around 7%, and New York house prices plummeted by 5%. However, in both Madrid and Frankfurt house prices rose by approximately 2%.
Between 1996 and 2002, London house prices rose dramatically to around 12%. Furthermore, houses' price in New York had grown to 5% above the 1989 average, but homes in Tokyo remained cheaper than they were in 1989. While the cost of an average home in Madrid rose by around 2%, prices in Frankfurt remained virtually unchanged.