"Last year we reached $1b in 12 months which was the strongest year the sub-region had. We expected that to level off this year, but we have seen really strong growth in the area."
Hill said at least $80m in consents could be issued in Tauranga and $23m in Western Bay during December, which meant another $100m could be issued by the end of the year.
"December is a shorter month with the Christmas holidays, so either people will rush to have their consents processed before the break or they will hold off until the New Year."
The Western Bay of Plenty had become an increasingly popular place to live, Hill said.
"As our population continues its strong growth, it gives people additional options in terms of lifestyle blocks as well as more urban residential living in areas such as Omokoroa, Katikati and Te Puke."
The record value of consents comes on the back of a strong November in which Tauranga City Council issued the second highest value of consents for new residential developments - $75m.
This was largely due to two separate consents for multi-unit townhouse development at Owens Place valued at $12m each, as well as three single dwellings valued at more than $1m.
Tauranga City Council building services manager Patrick Schofield said the consent to Bayfair Developments for 72 townhouses built across 17-23 Owens Place was split into multiple stages.
"This development, and others like it, reflect the need for different types of housing and increased density in Tauranga as we continue to grow," Schofield said.
NZINVEST Group general manager Kylie Turgis said the properties at the Owens Place development were designed as "executive-style" modern living townhouses.
"They appeal broadly to the mid-section of the market rather than the luxury end of the spectrum," Turgis said.
The existing property had been demolished and groundwork for the project was under way, with the development due to be completed in the first half of 2019.
"All the units had been sold to private individuals, Turgis said.
The value of building consents issued by Western Bay of Plenty District Council was $5m higher than in October, at $27m.
This included a new two-year record for the value of residential developments, with $20m in new builds planned.
Commercial consents were valued at $3.5m, ahead of last month's $1.4m, but less than the $5.1m issued in November 2016.
There were two large commercial consents issued this month for a new $1.6m childcare centre at Omokoroa Rd and $1.6m for new coolstores at Trevelyan's Pack & Cool.
A Western Bay of Plenty District Council spokesman said residential growth around the region was strong, with the majority of work in November centred in Omokoroa and the Minden Rd area.
"For the Western Bay district our primary growth area is Omokoroa," the spokesman said.
Large-scale consents showed business confidence in the Western Bay of Plenty district was high, the spokesman said.
A consent for a childcare centre at Omokoroa Rd and new coolstores at Trevelyan's Pack & Cool reflected growth in the area and change in population demographics, he said.
Tauranga Chamber of Commerce chief executive Stan Gregec said the number of consents showed the commercial building boom in Tauranga was strong and showed no signs of letting up.
NOVEMBER 2017 SUMMARY
TOTAL:
2016:
Tauranga City: $714m
Western Bay: $259m
Total: $973.78m
2017:
Tauranga City: $868m
Western Bay:$245.67m
Total: $1113.97b
TAURANGA CITY - NOVEMBER:
Total value: $90.6m
Total number for 2017: 236
Total number for 2016: 217
Single dwelling consents:
Total value: $75.5m
Total value for October: $36m
Total number for November: 134
Total number for October: 92
Commercial consents:
Total value: $7.8m
Total value for October: $33.4m
Total number: 16
Total number for October: 27
Government & community consents:
Total value: $815,000
Total value for October: $13.1m
WESTERN BAY OF PLENTY DISTRICT - NOVEMBER
Total value: $27.3m
Total value for October: $22.3m
Total number: 114
Total number for October: 125
Single dwelling consents:
Total value: $19.8m
Total value for October: $11.9m
Total number: 44
Total number for October: 32
Commercial consents:
Total value: $3.5m
Total value for October: $1.4m
Government & community consents:
Total value: $1.3m
Total value for October: $4.3m
Total number: 3
Total number for October: 5
