Editorial: Boom times are back

More than $50 million worth of building consents were issued in Tauranga last month. Photo / George Novak

Tauranga's economy is on the up.

Last week this paper featured stories about new construction, more jobs on offer, and house prices increasing.

All positive factors for Tauranga.

The construction industry seems to be going from strength to strength with more than $50 million worth of building consents being issued in July - the highest since 2007.

Tauranga City Council signed off on $54.5 million worth of building consents in July this year, the highest figure since November 2007 when $65.6 million of building work was approved. There were six consents issued worth more than $1 million.

Last month's total was also well above the $46.6 million of consents issued in July 2013.

The figures came a week after it was reported the region's GDP was increasing more rapidly than in Auckland and the Waikato.

On top of that house prices in Tauranga were up more than five per cent since last year.

Tauranga recorded a 5.6 per cent rise in the year to July to an average current value of $474,570, according to state valuer Quotable Value.

Western Bay values rose 3.2 per cent to $410,366 in the same period.

More than 600 new jobs will also be up for grabs in Tauranga as large-scale commercial developments are nearing completion.

City leaders are saying these are all positive signs that Tauranga is clawing its way out of the recession.

More jobs will mean more people, which would mean more spending, which would create more construction, and the cycle would continue.

Here's hoping the upward trend continues.