Police and ambulances were called to the house in De Burgh St, Lyneham, shortly after 4pm.

The man was taken to Canberra Hospital where surgeons operated on him soon after his arrival.

A 29-year-old Lyneham woman is assisting police with their inquiries. Police found her at the scene of the incident.

Neighbour Sylvia Perry said she heard the aftermath of the incident.

''I just heard him yell out 'the f---ing bitch stabbed me','' Ms Perry said.

''I opened the gate and saw him sitting there holding his stomach and it was pouring out with blood.''

Another neighbour said she saw the victim sitting on the street near the Lyneham Flats complex waiting for an ambulance and smoking a cigarette.

Detective Sergeant Harry Hains said numerous triple-0 calls were received in relation to the stabbing.

He described the injuries as ''what appears to be a single stab-wound to the centre of his chest''.

''We are conducting a full forensic investigation and we are already interviewing a number of witnesses,'' he said.

Sergeant Hains said police were trying to establish the circumstances of the stabbing.

He said police were unsure whether the weapon used in the incident had been recovered.

Ms Perry said the victim was a very quiet person. While it was the first stabbing she had seen in the nine years she had lived there, there were often problems in the public housing block.

''It's a shocking area around here, there is lots of drugs, we're always calling the cops to do something about it,'' she said.The victim was in a serious but stable condition last night.

Police urge anyone with information to call 1800333000.