A SYDNEY gangster armed with a World War II pistol has been shot dead in a botched Gold Coast home invasion believed to be linked to drugs.

The man, 34, was shot in the leg with a vintage Luger pistol after a struggle with the homeowner at Silvereye Circuit in Gilston in the Gold Coast Hinterland in the early hours of Tuesday morning.

Sources say the 29-year-old homeowner told police he arrived home about 1.40am to be confronted by four masked men inside the house.

He told police he wrestled with one of the intruders and the gun discharged, the bullet hitting the man's femoral artery.

Bleeding profusely, he staggered outside and into the street where he dropped dead, leaving a 50m blood trail in his wake.

This afternoon, police charged the homeowner with manslaughter. He is expected to face Southport Magistrates Court tomorrow morning.

Sources said drugs were believed to be at the centre of the shooting and the four men who took part in the home invasion had travelled up from Sydney.

Earlier, Gold Coast police regional crime co-ordinator Tim Trezise said said the spate of gun crimes on the Gold Coast, including the fatal shooting in May of police officer Damian Leeding, was upsetting the community and putting pressure on police.

"It continues to be a concern to police and the whole community in relation to firearm offences and offences of this ilk," he said.

"We've had a number of these offences this year and it's certainly placing some pressure on police resources to have to continue to attend to these matters.

"I spoke to a couple of residents out there this morning and they were quite shocked that such a thing had happened in their quiet suburban street.

"To wake up and find a deceased male person laying in the middle of your street, who had allegedly been the victim of a gunshot, is obviously of serious concern."

Originally published as Gangster killed by WWII pistol on Coast