A huge manhunt is under way for a heavily armed male suspect after two Australian police officers were shot dead and one injured in an ambush at a property in a small rural town in Victoria state.

Police described the situation in Porepunkah in the Australian Alps - some 300km (186 miles) north-east of Melbourne - as an active incident with hundreds of personnel deployed to find the suspect.

Officers were attacked as 10 of them attended the property to serve an arrest warrant, which Australian media said was for historical sex offences.

Police say the suspect escaped into the bush alone and on foot after the shooting. Officers are still trying to locate the man's wife and children.

Victoria Police Chief Commissioner Mike Bush said 10 officers went to the property on Tuesday at about 10:30 local time (00:30 GMT).

He described officers being fired upon by a heavily armed offender, stating that two colleagues - a 59-year-old detective and a 35-year-old senior constable - were murdered in cold blood. A third officer was seriously injured and airlifted to hospital.

Mr. Bush did not confirm the nature of the raid that officers were executing at the property.

Footage from the scene earlier on Tuesday showed dozens of police deployed to Porepunkah and a police helicopter circling the area. The town, which is home to about 1,000 people, is part of the Alpine Shire local government area.

In a statement, Alpine Shire Council Mayor Sarah Nicholas paid tribute to the officers, extending thoughts, love and unwavering support to their families.

Local resident Emily White shared her shock, noting the tight-knit nature of the community. Reports indicate the alleged gunman identifies as a sovereign citizen, referring to individuals who believe they are not subject to government authority. Gun crime remains relatively rare in Australia, which has stringent gun regulations.