Melbourne siege has come to a dramatic end after multiple gunshots

A Melbourne siege has come to a dramatic end after multiple gunshots were heard just and police officers stormed inside the home.

A man armed with a knife had been keeping police at bay at a property on Dandenong Road East at Frankston since about 5:30pm on Monday, with four people inside.

The siege ended Tuesday morning when police entered the property and gunshots were fired.

A man in his 30s suffered injuries to his lower body and was airlifted to the Alfred Hospital in a serious but stable condition.

A woman also in her 30s sustained lower body injuries and was taken to the Frankston Hospital in a stable condition.

The surrounding area had been cordoned off and a nearby childcare centre was in lockdown.

Police said that during the negotiation there had been yelling between officers and the man inside.

Officers believe the man with the knife was involved in a stabbing earlier yesterday that left a man with serious injuries.

Emergency services had been called to Carder Street in Seaford about 10:00pm on Monday where a 45-year-old man was found with stab wounds to his upper body.

He was taken to hospital with life-threatening injuries.

Police said the victim was involved in an altercation in Boonong Avenue, in Seaford, where he was stabbed in the lower back.

He walked to a nearby address where the fight continued and he received a slash injury to his neck, police said.

Police were looking for a 46-year-old Seaford man in relation to the incident, described as Caucasian, with blue eyes and short grey blond hair.