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"a relatively new development" is correct and usable in written English.
You can use it to refer to something that has recently become popular, accepted, or begun to exist. For example: "Online shopping has become a relatively new development in the last decade, providing customers with an easier way to purchase goods."
Exact(52)
This too is a relatively new development for this institution.
He has a house — worth less and less — in a relatively new development.
It is a relatively new development and its residents are largely middle-class and privileged.
It has not appeared in our league tables before now because its full-time provision is a relatively new development.
"Environmental insurance is a relatively new development and is not very well known in the development community," he said.
The great majority – and this is a relatively new development – are from Eritrea, Somalia, Darfur and the rest of Sudan.
Similar(8)
This relatively new development has clear benefits for universities – but the main one is the potential to attract international students.
But there's one relatively new development that could transform the industry: the growing adoption of sponsored journalism -- or reporting that is underwritten by big donors; such as, nonprofit foundations.
Carter Phipps' book, Evolutionaries: Unlocking the Spiritual and Cultural Potential of Science's Greatest Idea, delves deep into this relatively new development.
Continuous Delivery (CD) is a relatively new software development approach.
Expandable nails, such as the Fixion™ nail, are a relatively new technological development.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com