Sydney man in custody after AFP raid

A man has been taken into custody after a prolonged raid by Australian Federal Police on a suburban Sydney home.

Neighbours heard police yelling "drop the knife" before three bangs rang out during the raid at Bossley Park yesterday.

The AFP are yet to reveal the reason for the raid but say it wasn't linked to terrorism.

Locals said three generations of the family lived in the house and the man at the centre of the stand-off was a jeweller.