UPDATE: Brisbane police call off operation after 'unsubstantiated' siege report

Police have called off an operation into a possible Brisbane siege after a report they received about the incident turned out to be "unsubstantiated".

Officers were called to a house in Woondaree St in Bracken Ridge about 2.10pm today, after reports a man was holed up inside making threats.

Police declared an "emergent situation" warning and closed off several streets around the area.

They urged residents in the area to stay indoors while officers responded to the situation.

But by 4.35pm, they revoked the emergent situation after concluding that the initial reports of the incident were "unsubstantiated".

Police are now investigating the source of the initial report they received.

All roads in the area have been reopened and police have thanked locals for their patience.