New Build SOLD prices

Crashy_Time

LilElvis wrote: »

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.

Maybe the person who bought it from him over-paid then?

https://www.newsgroove.co.uk/uk-home-sales-down-16-5-per-cent-suggest-hmrc-figures/

3mph

My fault, nothing showed up for area or post code at the LR but I finally found the site had been given a completely new post code and fairly different to old post code for that part of the main road. Lesson learnt. So it looks up to date with details of lots of the houses.

RelievedSheff

Crashy_Time wrote: »

Maybe the person who bought it from him over-paid then?

https://www.newsgroove.co.uk/uk-home-sales-down-16-5-per-cent-suggest-hmrc-figures/

Mortgage approvals are up so someone must be buying something somewhere.

https://www.thetimes.co.uk/edition/business/mortgage-approvals-close-to-a-two-year-high-txq9tn37t

Land_Registry

We add the price paid to the data on receipt of an application. Not at the end if the registration process. As such how long it takes to submit the application will impact but the wait for registration won't.

There is then a variable delay between when that data may appear in third party websites as it then links to when that data was shared with them, usually around the third week of each month. They may vary in how quickly they update also.

New builds can be an issue re price paid as that can vary as others have posted already. The price paid data does exclude some types of sales/purchases as explained on GOV.UK

So a few possibilities to explain both delay in seeing the data and it not being present at all. So the information can't be 'held back' but it may be excluded if it's not a sale for full market value.
If another plot has been sold and registered but the price paid is not in the data the information is still 'open' but you'd need to apply for a copy of the Transfer for example to se what's included

Crashy_Time

RelievedSheff wrote: »

Mortgage approvals are up so someone must be buying something somewhere.

https://www.thetimes.co.uk/edition/business/mortgage-approvals-close-to-a-two-year-high-txq9tn37t

If you compare the figures to those for the peak of the property bubble it is easy to see that there is very little keeping property prices afloat now.

Crashy_Time

https://www.independent.co.uk/news/uk/home-news/bovis-homebuyers-cash-property-newbuilds-housing-developers-a8330766.html

datostar

Land_Registry wrote: »

The price paid data does exclude some types of sales/purchases as explained on GOV.UK

We purchased a 'surplus to requirement' police house in 1995 at a discount from market value based on years of occupancy of different police houses as I was a serving officer at the time (long retired now). Market value at the time was £55,000 and the discounted price to us was £39,500. The discounted price appears in Land Registry records rather than the market value at the time and this is reflected in all the various website estimates of current value resulting in our value showing as much less than other former police houses in the same road which were sold at market value. Were we ever to want to sell this could cause some confusion to say the least. The gov.uk guidance indicates that we may be eligible to use the complaint procedure as it seems the price should seemingly not have been shown at all. Am I right?

Land_Registry

datostar wrote: »

Land_Registry wrote: »

The price paid data does exclude some types of sales/purchases as explained on GOV.UK

We purchased a 'surplus to requirement' police house in 1995 at a discount from market value based on years of occupancy of different police houses as I was a serving officer at the time (long retired now). Market value at the time was £55,000 and the discounted price to us was £39,500. The discounted price appears in Land Registry records rather than the market value at the time and this is reflected in all the various website estimates of current value resulting in our value showing as much less than other former police houses in the same road which were sold at market value. Were we ever to want to sell this could cause some confusion to say the least. The gov.uk guidance indicates that we may be eligible to use the complaint procedure as it seems the price should seemingly not have been shown at all. Am I right?

You can raise it as a possible error using the online form provided in that linked explanation

mikelj99

Old thread I know...but, in case it helps anybody, one of the "tricks" I've heard of is for builders (via their sales staff) to batch together the land registry returns and send them in one go...which could potentially delay the amount of time it takes for that info to then appear online. For larger developments, one thing you can try is to use the Internet archive site (Wayback machine), choose the date you want, go to the builders website and pull up any available sale prices. Then cross-check the plot number with the actual postal address and push that into nethouseprices. That'll let you see what they were asking, and what they actually got.
Of course, as stated, builders keep prices artificially high by using incentives instead of an actual discount on the price. The whole thing is a b***dy scam if you ask me...the biggest purchase you ever make reduced to a guessing game over real value and crossing fingers that you haven't seriously overpaid. Trouble is that emotions are involved...unless you're like me when I simply walk away if the builder doesn't accept the offer (and I've had them come back to me weeks and even months after with a change of heart). In short - ALWAYS NEGOTIATE and NEVER PAY THE FULL ASKING PRICE but if you do then make sure you at least get them to pay for SDLT/flooring/other...