UPDATE: Man charged after hostage situation in Sydney's south-west

A 33-year-old man has been charged after a domestic incident turned into a hostage situation in Sydney's south-west.

Police from the Tactical Operations Unit and negotiators were called to a unit block at Lyell Place in Cartwright just after 7am.

There were unconfirmed reports a man was armed with a knife and holding two women hostage.

The situation was brought to a peaceful end just after 9am, with a man arrested at the scene and taken to a local police station.

A NSW Ambulance spokeswoman said a number of patients at the scene were assessed but none were taken to hospital.