Weekend Auction Markets Experience Listing Surge
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Weekend Auction Markets Experience Listing Surge

The national clearance rate fell to its lowest figure since August.

By Kanebridge News
Mon, Nov 15, 2021 10:18amGrey Clock 2 min

The high and rising volumes of late spring listings have forced the national clearance rate to 78.6% — the lowest result since August – and well below the previous weekend’s 83.8%.

National auction numbers were up to 2572 from the previous weekend’s 2463 and well ahead of the 1413 auctioned over the same weekend last year.

Auction listings have now increased nationally over the past seven weekends as the usually busy spring selling season has been amplified by the loosening of covid restrictions in Sydney, Melbourne and Canberra.

Sydney saw the market steady with a clearance rate of 77.8% at the weekend. The result was similar to the previous weekend’s 76.1% but again lower than the 78.4% recorded over the same weekend last year.

A total of 988 homes were listed for auction on Saturday – similar to the previous weekend’s 994 but again well ahead of the 760 auctioned over the same weekend last year.

Sydney recorded a median price of $1,780,000 for houses sold at auction at the weekend compared to the $1,777,500 reported over the previous Saturday but 22.8% higher than the $1,450,000 recorded over the same weekend last year.

Melbourne fared similarly to Sydney with a clearance rate of 77.7% — up on the previous weekend’s 76.5% and also higher than the 73.8% recorded over the same weekend last year.

The higher clearance rate was reported despite a surge in listings with 1206 homes listed for auction at the weekend – well above the 1095 reported over the previous weekend and significantly higher than the 494 auctioned over the same weekend last year.

Melbourne recorded a median price of $1,080,000 for houses sold at auction at the weekend which was higher than the $1,065,000 recorded over the previous weekend and 13.7% higher than the $950,025 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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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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