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Cassandra Morgan and Rachael Ward

Manhunt following stabbing death and assault

A major search is underway for a man following a death and serious assault at a home in Melbourne's north.

A 29-year-old man was killed and a 65-year-old woman seriously injured at the Reservoir property on Wednesday morning.

Police initially believed 32-year-old Shaun Sanderson was still inside the house but confirmed he was not there by Wednesday afternoon.

Victoria Police say a man has died and a woman injured in a possible homicide in Melbourne's north. (Tracey Nearmy/AAP PHOTOS) (AAP)

It is unclear whether he is armed with a weapon.

The Homicide Squad is investigating and still working out exactly what happened, however it's believed all three knew each other.

Mr Sanderson is described as being Caucasian with brown hair, red facial hair, about 175 centimetres tall with a medium build.

A man has died and a woman injured in a possible homicide at a Reservoir property in Melbourne. (Joel Carrett/AAP PHOTOS) (AAP)

Police have asked anyone who sees Mr Sanderson to call triple zero immediately but not approach him.

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