New builds not listening sold prices?

[dandeliondaisy]

Hi all, I've posted before about potentially offering on a new build property. I asked here about what would be considered a reasonable / cheeky offer! Many people suggested looking at the 'recently sold nearby' prices on Rightmove, however it appears that only a handful of properties sold in 2022 are appearing despite the houses selling at regular intervals from 2021 until now. It's a big development and I've been keep a close eye on the properties for sale. I've checked the land registry government website and again; no properties listed as sold since 2022, and even then, there's only around ten listed! It's so strange. Does anyone have idea why this might be and how I might check ALL those sold in the development? I have checked different postcodes within the development but still no results. Thanks in advance!

Sorry autocorrect! LISTING not listening!

There are huge delays at the land registry ATM, so that is likely why.

@Flubadubba ah ok thank you, this makes total sense. One estate agent told me it was two weeks to process from sale to land registry

Yes it’s strange sometimes. Our neighbours house sold nearly two years ago and it’s never appeared whereas my daughter completed on one on the 1 Dec 23 and it’s now online.

Yeah...no. We were warned 6-9 months if not longer. Ours took a bit less, but I know people.who have been waiting a lot longer.

There are huge delays at the Land Registry and they don't affect all transactions equally. New-builds are more
complicated as it's a new title being created out of the developer's title. It will be much quicker for someone buying a
straightforward house which is already registered.