I recently returned to Melbourne after being away for 5 years. They've been building a lot, particularly in the Western suburbs, and in satellite towns. Also there are a lot more people working remote / hybrid and living farther out in the country. A house in a smaller city like Bendigo is $400+ a week. But I expect this has been driving prices in Melbourne down -- but I'd hardly call it 'affordable' at ~$500 a week for a small house.