September Auctions Finish Strong
Kanebridge News
Share Button

September Auctions Finish Strong

As lockdowns look to ease, the market seems in good stead.

By Kanebridge News
Mon, Sep 27, 2021 8:25amGrey Clock 2 min

The first month of the spring weekend auction market has concluded with more remarkable results despite ongoing covid restrictions in most capitals.

Auction numbers have been impacted by the restrictions and were lower at the weekend with a total of 1155 homes offered nationally compared to 1272 the previous weekend.

The national clearance rate fell marginally at the weekend following a 5-month high – down from 84.9% to 83.8%.

All capitals reported clearance rates above 80%, with the exception of Melbourne, just below at 79.3%.

Sydney has shown no signs of slowing down, recording a clearance rate of 85.2% at the weekend following the previous weekend’s 85.1%. It is the eighth consecutive weekend the NSW capital has recorded a clearance rate above 80%.

Auction numbers increased for the fifth consecutive Saturday in Sydney with 641 homes offered for sale compared to the previous weekend’s 569. This figure remained lower than the 732 listed over the same weekend last year.

Sydney recorded a median price of $1,744,000 for houses sold at auction at the weekend  — higher than the $1,690,500 reported over the previous Saturday and 30.4% higher than the $1,337,500 recorded over the same weekend last year.

Melbourne saw a lift in its clearance rate – up to 79.3% after the previous weekend’s 72.3% — due to a lower proportion of withdrawals at 20.8% compared to the previous weekend’s 28.7%.

Listings fell sharply at the weekend with 269 auctions compared to the previous weekend 434 but well ahead of the 32 auctioned over the same weekend last year.

Melbourne recorded a median price of $870,500 for houses sold at auction at the weekend which was well below the $1,000,250 recorded over the previous weekend and similar to the $850,250 recorded over the same weekend last year.

With restrictions set to ease as the market heads deeper into spring, more strong results are forecast.

Data Powered by Dr Andrew Wilson of My Housing Market.



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