Like House Prices, Home Loans Are At Record Levels
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Like House Prices, Home Loans Are At Record Levels

The increase in loans has led to the fastest price gains in three decades.

By Terry Christodoulou
Wed, Feb 2, 2022 11:34amGrey Clock < 1 min

Last year, Australian’s borrowed a record near-$270 billion in new home loans last year as they took advantage of record-low borrowing costs resulting in property prices rising at the fastest rate in more than three decades.

New mortgage commitments over the 12 months to December jumped 51% from the 2020 calendar year — gaining 4.4% in December alone for a monthly record of $32.8 billion— according to official figures.

This total was driven by a 5.3% month-on-month rise in owner-occupier and first home buyer loans and a 2.4% gain in investor mortgage borrowing, which underpinned the capital city average growth over the year of 21% — the biggest annual gain since 1998.

Separate figures from data researchers CoreLogic indicates a curb in price growth in January, with house prices up 1.1% in January, with the longer-term trend showing a weakening in growth across the capitals

Brisbane and Adelaide led the charge, up 2.3% and 2.2% respectively while Hobart and Canberra gained more than 1% each.

Sydney and Perth were also up 0.6% each, Darwin was up 0.5% and Melbourne up 2%.



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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.

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

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

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