Beard said it was not a random attack: "They seem to have known each other."
"We want to reassure the community that this appears to be an isolated incident and a targeted attack by these offenders.
"The investigation is still in its very early stages and we are still working to establish the full circumstances surrounding this attack and our priority is to identify these offenders as soon as we can."
A 23-year-old man was shot dead, Beard said. Two others were injured.
Broad said he couldn't confirm or deny a link to HFK gang. He believed the street gang had been around the Avondale and Mt Roskill areas for some time.
He said police were "doing an area canvas. But there's nobody who appears to have witnessed it."
Police staff were "very aware" of the level of gun violence in Auckland, he said.
"We are taking it seriously."
There had been a number of arrests over recent gun incidents.
"We have to assume the men are armed. But we don't know."
He said there was no suggestion anything was taken from the property but it was still early in the investigation.
A significant police presence remained at the scene as the homicide investigation continues, police said in a statement.
"The man, aged 23, died as a result of a gunshot wound injury after two armed offenders are reported to have entered the address shortly before 9.30 last night.
"Four occupants were inside the address at the time.
"One of the offenders was armed with a firearm while the second offender was armed with a machete.
"An altercation has taken place between the offenders and the occupants inside the address.
"It is during this altercation that the victim has been shot.
"Two other people at the address, a male in his 30s and a male in his 50s, received significant injuries to their arms believed to have been caused by the machete.
"Both males remain in hospital in a stable condition."
Police said a fourth person at the address was uninjured and assisting police with inquiries.
The offenders fled and police are "working to identify them as quickly as possible".
A scene examination is being carried out today and police will remain at the address this evening.
A post-mortem is expected to take place tomorrow.
"Neighbours have been spoken to by police and the investigation team has been carrying out area enquiries to determine if any local residents saw or heard anything that may assist our investigation.
"A visible police presence will remain in the Mt Roskill area over the coming days as police continue these enquiries.
"Anyone with information about this incident is urged to contact Police on 105, quoting file number 211224/4140, or ring Crime Stoppers anonymously on 0800 555 111."
A source told the Herald there were no obvious suspects at this stage but the victim and other household members were linked to the HFK gang.
Police said this morning they had opened a homicide enquiry and were hunting for two people.
Sources have told the Herald two males entered the house last night armed with a gun and a machete.
A man - who the Herald understands was aged 23 - was shot in the chest and killed, while two men - 36 and 56 - were both attacked with the machete and seriously injured.
One resident of a nearby house told the Herald this morning she heard the police Eagle helicopter hovering about 6pm.
"Dogs started barking, police sirens were going off and then an officer came running over telling us to lock ourselves inside," she said.
The woman, who didn't want to be named, said she'd been living at the property for 16 years and had never seen anything like it happen on the street before.
A scene guard has been in place overnight and police are carrying out a scene investigation today. Forensics workers arrived just after 9.30am and were speaking with officers.
Armed police are visible at the scene this morning. About 50 metres of the suburban street has been cordoned off with white tape labelled "police emergency" in red.
Two armed officers and two police cars with flashing lights are at either side. A blue search and rescue police tent sits at the far end of the cordoned off street.
One woman who knew some family members from the property said two women living there were around 18 and 21, plus a younger boy in his mid-teens. They lived with their father, and their boyfriends often stayed at the house.
Another young woman who arrived at the scene this morning said there had been a few domestic incidents at the property and frequent yelling.
Her parents live in the house opposite and she wanted to comfort them but police wouldn't let her through.
"They are pretty shaken up, everyone is gobsmacked really," said the woman, who did not want to be named.
The property where the shooting occurred is owned by Kainga Ora, formerly Housing New Zealand.
Armed officers descended on Roskill property
Last night a witness told the Herald that one person had died while as many as three others were injured in what they believed was a shooting in Glass Rd.
Of those injured, one person was in a critical condition, and one was in a serious condition, according to St John. Both were taken by ambulance to Auckland City Hospital. A third person suffered minor injuries and did not require hospital treatment.
According to the witness, a dozen armed officers descended on a property.
A man was seen being rushed from the property on a stretcher and taken to one of three ambulances.
The road was cordoned off and a police helicopter was circling overhead.
Armed police were last night guarding the scene and workers in forensic suits could be seen at the property.
An earlier version of this report said the victim was believed to be linked to the HBK gang. This has been corrected to the HFK gang.