Queensland siege ends, but man who 'doused home with petrol' missing

A lockdown in a Gold Coast suburb is over but police say a man who reportedly threatened to set a home alight is yet to be found.

Police declared an emergency situation in Gaven around 5pm, when a man reportedly doused a property in petrol and threatened to ignite it.

Residents in nearby areas were evacuated as a precaution.

Negotiators were sent in to speak with the man, who had barricaded himself inside the home, but when police entered the house at around 10pm, the man was not there.

Residents were allowed to return to their homes after police entered the property and made sure the area was safe.

A investigation is now underway.