Police siege with Melbourne stabbing suspect ongoing

Police are continuing to negotiate with an armed man at a house in the Melbourne suburb of Frankston.

It is believed four other people are holed up in the house, with the man who has been seen brandishing two large knives.

The 46-year-old was wanted in connection with a stabbing incident in Seaford earlier on Monday, which left a man fighting for his life in hospital.

The Herald Sun reported the 'drug-affected man' told a police negotiator he would not surrender until he figured out "how that plays out".

Instead, he wanted to “kick back and have a drink and work out what I’m doing”.

The man also called out that he wanted some beers and reportedly said it was “a shame” his victim had not died.

The people inside the house were believed to be known to the man and the stand-off was not being treated as a hostage situation.

The Seaford stabbing was one of two in Melbourne's south-east this morning.