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Accused gunman arrested after near-fatal shooting

An accused gunman has been arrested more than 16 hours after allegedly shooting a man in the head and stomach in Brisbane's south.

The Carina man allegedly shot at a woman in Mount Gravatt earlier in the night before shooting a 38-year-old man twice after a disagreement in Holland Park West in the early hours of Sunday morning.

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Hunt for Holland Park West gunman

A hunt is underway for a gunman in Brisbane who shot a 38-year-old man on Saturday night. Vision: Channel Seven.

The victim of the second shooting, a 38-year-old Sunnybank Hills man, was stable but suffering life-threatening injuries as police took a 32-year-old Carina man into custody about 2pm Sunday.

He was taken to the Mount Gravatt Criminal Investigation Branch for interrogation with no incident.

The arrest followed an extensive manhunt, launched about 10pm Saturday along with an emergency declaration in the area around the Logan Road unit complex where the shooting took place.

Police were not releasing any details about what sparked the attack but Detective Senior Sergeant Tony Geary said two "associates" had a disagreement.

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Neighbours heard shouts and screams and reported large amounts of blood at the unit block.

Senior Sergeant Geary said the alleged shooter had also fired his gun earlier in the night at an address in Mount Gravatt, about 8pm.

"He went looking for a female associate, we'll allege, and she wasn't there but he was confronted by another woman and as a result he discharged a weapon in her direction," he said.

The woman was unharmed but the bullet smashed a window in the home.

Senior Sergeant Geary said police found what was believed to be the gun used in both incidents "secreted" on a nearby street.

The Carina man was yet to be charged.