Australian property market slows as vendors hold off for the summer holidays
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Australian property market slows as vendors hold off for the summer holidays

It’s beginning to look a lot like Christmas, as auction listings ease off ahead of the holiday season.

By KANEBRIDGE NEWS
Thu, Dec 15, 2022 11:02amGrey Clock < 1 min

Vendors may be holding off as December comes to a close, with auction listings falling more than -12 percent across the country, CoreLogic reports.

There are 2,373 properties scheduled to go to market this weekend, down from 2,717 last week, representing a -12.7 percent decrease. It is also -50.4 percent less than this time last year when 4,783 homes went under the hammer.

Melbourne once again leads the way, with 1,053 properties listed for auction, while in Sydney, 827 will be put to market. Those figures are more than -14 percent lower than the previous week for both capitals.

Brisbane will actually see an increase in activity this weekend, with 185 homes listed compared with 180 the previous week. In Adelaide, the 178 properties put to market represent a -6.8 percent fall week-on-week. Perth is faring better, with 25 home going to auction, up from 12 the previous week. Tasmania is the only state to record higher auction numbers compared with this time last year, with five properties scheduled this weekend, rather than three last year.

The market is set to slow down even more during Christmas week, with CoreLogic reporting  just 380 homes scheduled to go to auction at this stage.  



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Judge Blocks Effort to Auction Graceland

Family of Elvis Presley was fighting the attempted sale, alleging fraud

By TALI ARBEL
Sun, May 26, 2024 2 min

A Tennessee judge on Wednesday blocked an allegedly fraudulent attempt to auction off Graceland, the former Memphis home of music legend Elvis Presley and a major tourist destination in the state.

Elvis’s granddaughter, actress Riley Keough , says a company that had planned a Thursday sale was fake and trying to defraud the trust that owns Graceland.

Judge JoeDae Jenkins in Chancery Court in Shelby County, Tenn., granted the injunction to stop the auction, according to a court clerk. The court had granted Keough a temporary restraining order on the sale last week.

The auction was initiated by an entity called Naussany Investments & Private Lending. It had filed a public notice for a foreclosure sale in Tennessee, alleging Lisa Marie Presley , Elvis’s only child, defaulted on a $3.8 million loan it made to her. The group said it now owns Graceland because Presley defaulted on the loan.

Presley, Keough’s mother, controlled the Graceland trust until her death in January 2023 . Keough then took over as trustee.

Lawyers for Keough said Naussany’s loan documents are forgeries, and the firm “appears to be a false entity created for the purpose of defrauding” the trust that owns Graceland, Presley’s heirs or any purchaser of Graceland.

Elvis Presley Enterprises, which manages Graceland, has also said Naussany’s claims were fraudulent. “There will be no foreclosure,” said Elvis Presley Enterprises spokeswoman Alicia Dean . “Graceland will continue to operate as it has for the past 42 years.”

Keough’s lawyer declined to comment.

Naussany Investments and Kurt Naussany, named in the complaint as acting on behalf of the entity, couldn’t be reached for comment. A phone number listed in the complaint didn’t work, and emails sent to associated addresses weren’t answered. The Wall Street Journal couldn’t separately find contact information for a Kurt Naussany. A lawyer for the entity couldn’t be identified.

The Graceland complex in Memphis, which includes an exhibition center and a 450-room hotel, attracts hundreds of thousands of visitors annually.

Elvis bought the property in 1957, when he was 22 and an ascendant star. He died in 1977 at the age of 42 and is buried on the Graceland property. Graceland opened to the public in 1982.

Lisa Marie Presley’s mother, Priscilla Presley , reached a settlement in 2023 with Keough over who would control the trust. The settlement came after Priscilla Presley challenged a 2016 amendment to the trust filed by Lisa Marie Presley that removed her mother as trustee.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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