New Build SOLD prices

3mph

Not sure if I am being daft but I cannot find the prices that the developer sold houses that have been built so far on a new development. It looks as if enough people have been in long enough for the transactions to register at Land Registry but nothing shows.

Can developers hold back registering so that new customers cannot see what discount if any they will agree to?

I am looking at the Allt y Celyn Persimmon site at SA8 3EB

Many thanks

PasturesNew

I've noticed a lot are slow coming through. If they were sold to a Ltd company/landlord they'd not show up. There's a registration time limit, I suspect they will work to the longest date possible so prices come through latest.... but there are still big gaps.

davidmcn

Registrations of part of a site will take longer than standard applications to be dealt with by the LR. How long ago do you think the first sales completed?

RelievedSheff

New build registrations are slower to show up on the sold prices sites then a standard resale.

The sales on our site are showing up about 4-5 months after the houses are sold and occupied.

We moved in three months ago and no sign of our sale yet on the sold price websites even though it is registered with the land registry.

ethank

Yes there also seems to be a backlog. When I bought my last house in 2013 - it took three months.

I suppose with a new build there is a lot more work to do (splitting the title from the developer's land), than with a resale - which is just a straight transfer.

3mph

Yes I guess first one about 4 months ago. I wondered whether the developer could be deliberately delaying to avoid new buyers seeing what discount offered. Thanks

davidmcn

3mph wrote: »

I wondered whether the developer could be deliberately delaying to avoid new buyers seeing what discount offered.

It's the buyer who registers their title, not the seller.

kingstreet

Don't pretty much all sales take about three months to appear on the Land Registry figures?

LilElvis

3mph wrote: »

Yes I guess first one about 4 months ago. I wondered whether the developer could be deliberately delaying to avoid new buyers seeing what discount offered. Thanks

It won't give you the whole story in any case. When my friend bought a new build flat they "incentivised" in other ways rather than discounting the flat itself - stamp duty paid, upgraded flooring, kitchens and bathrooms at no cost to him and they paid off his credit card which was over £10k.

Crashy_Time

LilElvis wrote: »

It won't give you the whole story in any case. When my friend bought a new build flat they "incentivised" in other ways rather than discounting the flat itself - stamp duty paid, upgraded flooring, kitchens and bathrooms at no cost to him and they paid off his credit card which was over £10k.

Never heard the credit card one before, truly desperate. Bet he still over-paid though....

LilElvis

Crashy_Time wrote: »

Never heard the credit card one before, truly desperate. Bet he still over-paid though....

I know you would like to believe that everyone loses money when they buy property but he bought the flat a couple of years ago and sold just over a year later. He made a small profit on top of the cash incentives he had received by way of stamp duty and his personal debt being paid, so no, he obviously didn't overpay.