UPDATE:  Police searched and cleared the property about 1.20pm and established there was no one inside the house. They have been unable to find the man who was reportedly armed with a firearm at 9am.

The investigation is ongoing.

Armed police have surrounded a house in Lancefield following reports of a man inside with a firearm.

The town’s main street is in lockdown as officers from the Critical Incident Response Team attend the scene.

Police say they received reports about a man armed with a firearm about 9am.

They do not believe anyone is in the house with the man.

High Street is closed between McMasters Lane and Park Street and police are asking motorists to avoid the area.

Kyneton police told Star Weekly Lancefield Primary School was in lockdown.

Two helicopters are circling the area.

One resident posted on Facebook: “Apparently shots fired last night. Police have warned us to stay inside and lock doors.”

But police have advised there is no threat to the community.