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Budget for 5 weeks in France and Italy

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My partner and I are planning a 5 and a half week holiday in France and Italy (from Australia) in May next year which will look like this:
Fly into London, stay 3 nights. Eurostar to Paris, stay in Paris apartment for 7 nights. Make our way through France into Italy, end up in Rome which is where we fly out of. We would like to spend roughly equal time in France and Italy, so 2 and a half weeks in each. So far flights, insurance, London accom and Paris accom have been paid for.
Firstly, has anyone done a trip similar to this so they could give me an idea of what their budget/expenditure was like for the whole trip so we have an idea what we are up for. We don't want to do extreme budget (such as hostels etc), but also definitely not luxury...so just comfortable.
Secondly, if anyone has any recommendations on an itinerary for a trip such as this that would be great, as we havent yet worked out exactly what places we want to go to as we make our way through the two countries (will be using the train network to get between the different places)
Thanks so much for your help!

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