New Auction Year Kicks Off Early
Kanebridge News
Share Button

New Auction Year Kicks Off Early

Eager sellers look to get a head start on the market.

By Terry Christodoulou
Mon, Jan 24, 2022 11:22amGrey Clock 2 min

As sellers look to get a head start on the rest of the market, the property auction market has kicked into gear earlier than usual.

Of the 448 homes listed nationally for auction over the past week, 66.8% sold according to data from CoreLogic.

The auction volume for the first major weekend of the year was significantly higher than the previous corresponding weekend at almost double the same time last year — with 244 properties auctioned.

CoreLogic predicts the number of homes taken to auction will continue to rise over the coming weeks, with over 1150 auctions expected to be held next week, compared to 884 over the same week last year.

In Sydney, a total of 79 homes hit the market — compared to 47 this time last year — of which 60 have been recorded and 58.3% of those auctions were successful.

Melbourne proved the busiest auction capital this week with 144 properties listed for auction.

With 100 results taken at the time of writing, 64% reported a successful result — on par with the average final clearance rate through December.

Over the same week last year, 127 homes were auctioned across the Victorian capital.

The push for sellers to get a jump on the market follows on from a record December quarter in 2021.

CoreLogic’s Quarterly Auction Market Review recorded 42,918 properties were taken to auction across the combined capital cities in the three months to December 2021.

The numbers equate to an 85.1% increase from the previous quarter and a 109.5% lift from the December 2020 figures.

In Australia’s two biggest auction markets, Melbourne had 19,788 auctions and a clearance rate of 69.7% for the December quarter compared to Sydney with 14,906 auctions and a clearance rate of 69.9%.

Across all capitals, the quarterly clearance rate of 71.3% was fractionally down on the previous quarter’s 71.7%



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.

Related Stories
Property
Judge Blocks Effort to Auction Graceland
By TALI ARBEL 26/05/2024
Property
Hotel experience at home in Castle Hill
By KANEBRIDGE NEWS 22/05/2024
Property
Why living 80s style would mean we’d need 1.2 million fewer homes
By Bronwyn Allen 21/05/2024
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.

Related Stories
Money
Metallica’s European Tour Showcases Renewable-Energy Big Rigs—And Their Limits
By PAUL BERGER 24/05/2024
Money
The fast-approaching ‘silver tsunami’ set to hit the Australian economy
By Bronwyn Allen 23/05/2024
Money
Boost for World Economy as U.S., Eurozone Accelerate in Tandem
By JOSHUA KIRBY 25/05/2024
0
    Your Cart
    Your cart is emptyReturn to Shop