Earlier this year the Demographia International Housing Affordability Survey showed Tauranga houses were more unaffordable than houses in Tokyo, New York and Perth.
In order to address affordability the region needs to focus on wage growth.
Raising the level of education is the first step, which is why the new downtown university campus is so important.
A partnership between University of Waikato and University of California could be the catalyst to rejuvenate Tauranga city and retain young people in the area.
This is the view of University of Waikato council member Paul Adams who says the agreement between the University of Waikato and the University of California would see research and resources shared, and continued student exchanges and possible lecturer exchanges.
In his view, the tertiary campus would help lower the age demographic, develop a new tier of local young professionals, attract new business to the city and increase the average wage.
It would also help address the drift of young people who leave to study outside the region.
The most promising aspect of the campus is that it appears it will be aligned to industry and community needs.
Initial research suggests that areas such as automation, applied technology for the primary sector, coastal marine, environmental and restoration management, agri-chemical and pharmaceutical development, alongside freight logistics and supply freight management will be the focus.
If future graduates of the university can walk into well-paying jobs that reflect the region's needs then we may finally shake off the "$10 Tauranga" tag once and for all.