Introduction
The line graph presented illustrates the fluctuations in house prices over a period of ten years. The graph covers the years from 2010 to 2020, with prices of houses in three different cities – London, Manchester, and Birmingham. The data range from the first quarter of 2010 to the last quarter of 2020. The graph is an essential tool for analysis and comparison of various house prices in different periods. The purpose of this essay is to analyze the data in the graph and present a comprehensive report of the findings.
Overview of the Data
The line graph provides critical data regarding the prices of the houses in the three cities. The graph indicates that over the ten years, the house prices in all three cities have increased, with London having the highest increase. While house prices in Manchester and Birmingham follow a similar trend, there is a considerable difference in their prices. Birmingham's house prices are the lowest, while Manchester's are the second lowest following London.
During the first quarter of 2010, house prices in Birmingham and Manchester were almost similar, at approximately ￡145,000. At the same time, London's house prices were significantly higher, at approximately ￡450,000. From this point on, all three cities experienced an increase in their house prices. The prices of the houses in Birmingham and Manchester have been following a similar trend throughout the ten years. In contrast, London's house prices have been relatively volatile.
Analyzing the Data
The line graph shows that over the ten years between 2010 and 2020, London's house prices experienced the highest increase of approximately ￡320,000. By the end of 2020, the house prices in London had risen to approximately ￡770,000. Manchester's house prices rose from almost ￡145,000 to approximately ￡200,000— an increase of almost ￡55,000. Similarly, Birmingham's house prices rose from almost ￡145,000 to approximately ￡170,000. This represents an increase of ￡25,000, making Birmingham's houses the most affordable of the three cities.
It is worth noting that house prices in London are significantly higher than those in both Manchester and Birmingham. The difference between the house prices in London and Birmingham is approximately ￡600,000. The difference between the house prices in London and Manchester is approximately ￡570,000. In comparison, the difference between Manchester and Birmingham's house prices is just ￡30,000.
Conclusion
In conclusion, the line graph presented provides critical data on the fluctuations in house prices over ten years between 2010 and 2020 in London, Manchester, and Birmingham. The graph shows that all three cities experienced an increase in their house prices, with London having the highest increase, followed by Manchester and then Birmingham. The data highlights the difference in house prices among the three cities, with London having the most expensive houses and Birmingham the least expensive. The graph serves as a powerful tool in analyzing and comparing the house prices and is crucial to policymakers in decision-making regarding their housing policies.