Why now is the perfect time for a home extension
Trade directory Checkatrade found that the average cost of a building job had fallen by 28pc to £12,065 in the three months to March, compared to the same period in 2024.
Experts said low demand for large renovation projects and wider availability of building materials had pushed costs down.
Figures published by the Department for Business and Trade's latest building materials supply index found that deliveries of bricks had risen by 8.5pc compared to January last year, while concrete deliveries were up 4.2pc.
The report found that building material prices were stabilising, having dipped below their peak in 2022 when supply chains faced heavy disruption.
Building materials and labour soared in the wake of the pandemic, and Checkatrade said costs were further pushed up by the effects of Brexit.
Jambu Palaniappan, of Checkatrade, said: 'We've seen demand for some of the bigger home improvement jobs dip over the past year, and as demand has slowed, prices have followed, making it more affordable for people to get work done.
'This drop in costs, combined with the usual seasonal uptick we see at the start of the year, has led to a big rise in certain types of home improvement projects recently, as consumers take advantage of better prices.'
The website also found the number of interior design jobs commissioned had risen by 33pc since last year. Painting and decorating searches also increased 22pc.
The website said general 'handyman' costs had also fallen significantly from £592 to £389 in the past 12 months, with tiling and electrical work similarly dropping by 25pc to £1,307.
Jane Hewson, 64, a homeowner from Herefordshire, said she was planning an extension to the small barn next to her home with the hope of downsizing into it.
She said: 'I don't want to move out of the area as I love it, but until recently it's been very difficult to get a decent builder.'
Ms Hewson said she was provided quotes of around £95,000 plus VAT to extend the barn, but in more recent months has seen the price come down to the region of £75,000.
She said: 'I was pleasantly surprised, but I don't think prices are going to come down again.'
Although prices are falling, the Federation of Master Builders (MFB) has warned homeowners to exercise caution when approaching builders who do not have a licence.
The trade body, together with the Homeowners Alliance lobby group, has called on the Government to introduce a mandatory licensing scheme for housebuilders. Without one, the MFB said homeowners had 'no legal safeguards to ensure builders meet basic standards'.
Brian Berry, of the trade body, said: 'We can't allow just anyone to call themselves a builder any more. The Government must step up and bring in a licensing scheme that puts quality, safety, and accountability first.'
Paula Higgins, of the Homeowners Alliance, added: 'I would hate to think how many people have fallen victim to rogue traders or poor-quality work, how many millions of pounds of households' money have been lost, and victims left to clear up the mess over the past decade alone.
'When it comes to appointing a builder, homeowners shouldn't have to cross their fingers and hope that their builder is one of the good ones. The Government needs to protect homeowners through licensing.'
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