With property prices still rising, the retirement living sector is trumpeting that its homes are comparatively cheaper now.

“This week at a fabulous ECH Inc. community we launched the latest Retirement Living Census. It reveals that an average two-bedroom retirement village unit across Australia is 48% cheaper than the median house price in the same postcode,” said Retirement Living Council Executive Director Daniel Gannon.

“This is an incredible value proposition at a time when governments are looking for supply and affordability solutions.

“At a time when national housing affordability is eroding, and health care costs are also growing, the value proposition of retirement communities is strengthening – but there are some warning bells starting to sound,” he said, adding there is a decline in the forecast supply pipeline.

The PwC Property Council Retirement Census shows that across the 18 months to December, the average cost of a two-bedroom retirement village unit in Australia grew by 6.6% to $516,000, compared with a 26% price rise for a similar property in the open market.