Q1 1991 Q4 1991 Q3 1992 Q2 1993 Q1 1994 Q4 1994 Q3 1995 Q2 1996 Q1 1997 Q4 1997 Q3 1998 Q2 1999 Q1 2000 Q4 2000 Q3 2001 Q2 2002 Q1 2003 Q4 2003 Q3 2004 Q2 2005 Q1 2006 Q4 2006 Q3 2007 Q2 2008 Q1 2009 Q4 2009 Q3 2010 Q2 2011 Q1 2012 Q4 2012 Q3 2013 Q2 2014 Q1 2015 £ 200,000 Average house price – nominal £ 180,000 £ 160,000 £ 140,000 £ 120,000 £ 100,000 £ 80,000 £ 60,000 £ 40,000 www.economicshelp.org | Source: Nationwide UK House prices Read a description of the graph. Is it similar to yours? b The line graph (1) shows the (2) development of house prices in the UK between 1991 and 2015. Figures are based on a survey (3) published by Nationwide. The years are arranged along the (4) x-axis, while on the (5) y-axis you can see the average house prices in pounds sterling. In the early nineties house prices (6) amounted to just under sixty thousand pounds. Between 1991 and 1997 they remained (7) relatively stable. After that they (8) gradually grew higher until they (9) reached 100,000 pounds in 2002. After this (10) rise, the prices (11) shot up by about 80,000 and reached (12) a peak at 180,000 pounds around 2006/7. This was followed by a (13) slight decline and in 2008 they (14) dropped by roughly 30,000 pounds and (15) recovered slightly in the following years. From 2012 to 2015 average house prices (16) rose steeply once more and (17) reached an all-time high just under 200,000 pounds. Summing up, one can say that the price of property in the UK (18) increased steadily in the period under consideration with the exception of a (19) sharp decline around 2008. Match the highlighted expressions 1–19 with expressions A–S. A a high point H more or less constant O soared B the change in I peaked at P stood at C decreased by approximately J picked up marginally Q went up continuously D depicts K provided by R increased dramatically E dramatic drop L reached S vertical axis F horizontal axis M slowly rose G increase N small decrease Talk about the findings of the survey in class. What could have caused a rise or drop in prices? Example: Maybe more people wanted to buy houses than there were houses on the market so prices went up. c d 75 Language skills Extras Explore 6 Sorting things out Nur zu Prüfzwecken – Eigentum des Verlags öbv
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