Category: News

The October 2026 Budget brought several announcements that could affect the property market, particularly first-time buyers and landlords.

At Priya Properties, we’ve been part of Leicester’s property market for many years, working across both sales and lettings. Here are some of the key changes we think buyers, sellers and landlords in Leicester should be aware of.

More support for first-time buyers

There was some welcome news for those hoping to get onto the property ladder, including the new Your First Home scheme and the announcement of a new First Time Buyer ISA.

The Your First Home scheme is designed to help first-time buyers overcome the challenge of saving a deposit, with £4.7 billion committed to the scheme.

For first-time buyers in Leicester, this could provide another route towards home ownership, particularly for those who can afford the ongoing costs of owning a home but have struggled to build a sufficient deposit.

What does the Budget mean for landlords?

For landlords, one of the key announcements relates to the taxation of property income.

From April 2027, property income tax rates will be 24%, 44% and 49%, depending on the applicable tax band.

For landlords in Leicester, this is another change to factor into longer term property investment and portfolio planning.

The private rented sector plays an important role in our city. While helping more people become homeowners is welcome, we also need good landlords providing good quality homes for people who choose or need to rent.

Further investment in housing

The Budget also announced additional investment in social and affordable housing, as part of wider plans to increase housing supply.

For Leicester, maintaining the right balance between home ownership, private renting and affordable housing will remain important to the health of our local property market.

What could this mean for Leicester?

Overall, there are positives for people hoping to take their first step onto the property ladder, alongside further changes for landlords to navigate.

At Priya Properties, we believe a healthy Leicester property market needs both. We need opportunities for people to buy their own homes, while maintaining a good supply of quality rental properties.

Thinking about buying, selling or letting a property in Leicester?

Whether you’re planning your next move or simply want to understand what these changes could mean for you, the Priya Properties team would be happy to help.

Get in touch with us to discuss your property plans.

It is a fair question, and one that more landlords are asking as self-management platforms and online tools become more accessible. The honest answer depends on your situation – but for the majority of Leicester landlords, a good letting agent delivers far more value than it costs. Here is why.

What Does an Agent Actually Do?

It is worth being clear about what a letting agent offers, because it is often more than landlords expect. A full management service covers everything: marketing the property, conducting viewings, referencing tenants, drafting tenancy agreements, collecting rent, chasing arrears, arranging maintenance and repairs, conducting inspections, managing check-ins and check-outs, and advising on legal compliance. A let-only service handles the tenant-find and handover, with ongoing management remaining the landlord’s responsibility.

The Case for Using an Agent

There are four areas where a good agent consistently adds value that is hard to replicate when self-managing.

Local knowledge is the first. Understanding which streets attract which types of tenant, what rents are genuinely achievable right now, and how to position your property in the market takes years of experience to build. A specialist Leicester agent brings that from day one.

Legal compliance is the second. Landlord legislation changes frequently, and the penalties for getting it wrong are significant. A reputable agent stays on top of every regulatory development – from licensing requirements and safety certificates to deposit protection and Right to Rent checks and ensures your property remains fully compliant.

Time is the third. Managing a rental property properly takes more hours than most people expect. Maintenance calls, tenant queries, administrative tasks and inspections all add up. Full management gives that time back to you.

Finally, void periods. Agents with established marketing channels, active tenant databases, and professional listings consistently let properties faster than landlords going it alone – and a shorter void is real money saved.

What to Look For

Not every letting agent offers the same standard of service, so it pays to do your homework. Look for Safeagents membership, which signals a professional agent. Client Money Protection has been a legal requirement since 2019, so verify it is in place. Membership of a redress scheme is also mandatory. Beyond the legal basics, look for transparent fees, a strong local reputation, and a team that communicates proactively rather than reactively.

The Bottom Line

For landlords with multiple properties, those who live away from Leicester, or anyone who values their time, a professional letting agent is almost always worth the fee. The cost is typically more than offset by faster lets, better tenant retention, and the avoidance of costly compliance mistakes. We offer both let-only and full management services – talk to our team to find the right fit for your circumstances.