A man has been shot dead by police after reports of a stabbing in the Brisbane suburb of Grange.

Emergency services were called to Days Road at Grange just before 2:30pm on Sunday after reports of a domestic violence-related incident.

Police said early investigations indicated a man had been stabbed by another man known to him.

One person was then fatally shot by police.

Residents said they heard four gunshots and a heavy police presence remains at the scene.

Days Road is blocked at two intersections near the property where the incident is believed to have occurred.

More to come.