DAMON HILL WINS SECOND AUSTRALIAN GRAND PRIX.

Byline: Daily News Staff Writer

Damon Hill overtook his rookie Williams-Renault teammate Jacques Villeneuve with five laps remaining today and won his second straight Australian Grand Prix.

Hill recorded the 14th Formula One victory of his career, equaling the record of his late father Graham Hill - a two-time world champion.

Pole-sitter Villeneuve had been aiming to become the first driver in 35 years to win his world championship debut.

The 24-year-old Canadian led for all but two laps of the race until Hill overhauled him on the 54th of the 58 laps of the new 3.274-mile Albert Park track.

Hill, who won a previous Australian Grand Prix in Adelaide four months ago, was provisionally timed at one hour, 32 minutes, 50.491 seconds to cover a total of 189.892 miles. The British racer averaged 123.492 mph.

Villeneuve, last year's IndyCar Series champion and Indianapolis 500 winner, finished second after dropping back over the last few laps, but still gave Williams-Renault a 1-2 finish. He was 38.020 seconds back at the finish.

Northern Ireland-born Eddie Irvine was third in a Ferrari, with Gerhard Berger of Austria fourth in a Benetton-Renault, Mika Hakkinen of Finland fifth in a McLaren-Renault and Mika Salo, also of Finland, sixth in a Tyrrell-Yamaha.

Villeneuve had been bidding to emulate Italians Giuseppe Farina and Giancarlo Baghetti, the only racers to have won in their first grand prix.

Farina won in an Alfa-Romeo at the British Grand Prix, the inaugural world championship race, in 1950, while Baghetti triumphed in a Ferrari at the French Grand Prix in 1961.

Villeneuve is the son of former Ferrari star Gilles Villeneuve, who was killed in an accident in qualifying for the Belgian Grand Prix at Zolder in 1982.

Defending two-time world champion Michael Schumacher of Germany was in third place in his first race for Ferrari when he withdrew on the 34th lap.