A man is dead after being stabbed in the Christchurch suburb of Riccarton last night.

Police have launched a homicide investigation.

The man, in his 40s, was involved in an altercation at a Wainui Street property at about 8.45pm.

He sustained serious stab wounds.

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It is understood the fatal incident is gang connected.

Police at the scene of a fatal stabbing in Christchurch. Photo / Rachel Das
Police at the scene of a fatal stabbing in Christchurch. Photo / Rachel Das

Tributes are being posted online by many Mongrel Mob gang members and associates for the victim, shown in the gang's patch in multiple photographs.

At least one of the men in custody is also said to be connected to the Storm Troopers gang.

Police said after the victim was stabbed he left the scene.

"He then left the address in a vehicle and travelled to Clarence Street, where he was located around 9.30pm," a police spokesperson said.

"Sadly, he died a short time later."

Two men have been taken into custody and charged in relation to the incident.

A 31-year-old man has been charged with murder.

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A 38-year-old man has been charged with assault.

They will appear in Christchurch District Court tomorrow.

"Police are speaking to a number of other people who were present, and are not seeking anyone else in relation to the incident at this time," said the spokesperson;

"Investigators will be conducting scene examinations at locations on Wainui Street, Holland Street and Clarence Street over the coming days.

"Police have made contact with the deceased man's family and are supporting them at this sad time."

Ben Alexander lives across the road from the address where the man was stabbed.

He said he and his flatmates didn't hear anything at the time.

"Obviously there's a few guns floating around, which makes you a bit uneasy," he said.

Johanna Zonnevylle said she came home to see the cordons, tent and armed officers in the early hours of the morning.

But she said she feels safe.

"I feel fine, I trust the police to do their job… there's not really anything else we can do."

Local residents have confirmed they believe the murder is gang-related.

-Additional reporting Rachel Das, NewstalkZB