UPDATE: Brisbane siege ends peacefully after lengthy stand-off

A man who allegedly armed himself with a machete and barricaded himself inside a home south of Brisbane for more than 20 hours has surrendered.

Police negotiators worked through the night after declaring an emergency situation in Lorikeet Street, Inala, yesterday afternoon.

Officers had been called to the street around lunchtime after residents reported a man had been making threats and damaging property.

The man had a machete and a hand gun, police allege, but had not made any threats against any person.

The emergency situation was lifted at 10am (AEST) on Sunday and police advised a 36-year-old man had been taken to hospital for assessment.