The police airwing and dog squad are currently looking around the McArdles Lane area near Natte Yallock for a man who is believed to have held up a woman in Buson Lane, Concongella at 6am.

A police spokesperson said it was believed a man approached a woman and threatened her with a knife and stole her white Holden Captiva.

It was not long until the man again tried to steal another car in Rathscar, north of Avoca, more than 80km away.

Where the Holden Captiva car was stolen and dumped.

There, he tried to steal another car about 7.30am, using a sledgehammer as a weapon to threaten the owner.

“A short time later the same man went to a rural property in McCardles Lane in and approached a car, he was then challenged by the owner,” the spokesperson said.

“The man produced a sledgehammer and took off in the Holden Captiva. The victim/owner gave chase and the man dumped the car in the paddocks in McCardles Lane and took off on foot.”

The man is described as being in his 30s or 40s and wearing dark clothing.

A number of police units are on scene, while the airwing is circling the area.

The canine unit is also involved in the search.