Greater Melbourne Demographics per ABS census:
Year - Population - Australian-Born (%) - Private Dwellings - Unoccupied dwellings (%) - People per occupied dwelling
2021 - 4,917,750 - 2,947,136 (59.9%) - 2,057,482 - 198,685 (9.7%) - 2.6
2016 - 4,485,211 - 2,684,272 (59.7%) - 1,832,243 - 167,500 (9.1%) - 2.7
2011 - 3,999,982 - 2,530,775 (63.3%) - 1,636,167 - 141,506 (8.6%) - 2.6
2006 - 3,592,591 - 2,306,099 (64.2%) - 1,471,155 - 119,623 (8.1%) - 2.6*
2001 - 3,338,704 - 2,195,706 (65.7%) - 1,344,624 - 101,251 (7.5%) - N/A*
*"Melbourne" rather than "Greater Melbourne"; areas are broadly identical
Doesn't much look like "mass immigration" at all. In 20 years the population has increased by just under 1.6m, of which just under half are Australian-born. That corresponds to about 40,000 non-Australian people a year moving to the area, and it's unsafe to assume all are new immigrants.
There's been a small increase in the number of English-born people (~7,000, or 6%), a large increase in the number of NZ-born people (~37,000; just under double), and the two largest increases have been Chinese and Indian which didn't even make the top five in 2001 but sit at 166k and 242k respectively in 2021 and account for at most 318k between them. Along with Vietnam, up by 35k from 2021, half of all non-Australian-born migration from 2001-2021 is these five nations. The remaining 432k - or 21,500 people per year - is of other origin.
If it's Arabs that concern you, there's no figure other than "top language spoken at home other than English", with responses of Arabic sitting at 87,689 and accounting for 1.8%. This wasn't in the top five in previous years, so has increased by anywhere from 16,000 to the full 87,000 in the last five years - an increase of 3,000-17,500 a year.
Any "housing crisis" looks to be caused by vacant properties. The number of private houses has increased by just over 700,000 in the same time (enough to reduce the numbers of people per dwelling) but the occupancy rate has dropped from 92.5% to ~90%: there's 100,000 more empty homes. This, to be fair, could be on "the bankers".