A man has been charged with murder after a woman was fatally stabbed at a Melbourne home overnight at an Australia Day party.

The 41-year-old woman died from stab wounds at a home in suburban Hallam just after midnight despite the efforts of emergency services.

Douglas Eustace, 43, who is well known to the woman presented himself to a police station a short time later.

Douglas Eustace, 43, was questioned today by police. (9NEWS)

He will appear in court at a later date. (9NEWS)

Neighbours told 9NEWS they heard screams coming from the home shortly after midnight this morning.

"Really high pitched screaming," neighbour Elle told 9NEWS.

"I knew something was wrong so I thought I will just call the police."

Emergency services were called to the Hallam home just before 1am today (9NEWS). (9NEWS)

Forensics officers are searching for evidence at the address in Hallam. (9NEWS) (9NEWS)

Forensic investigators combed through the blood-stained lounge room today, cordoning off the corner block and searching a nearby four-wheel drive.

Mr Eustace spend the day being questioned by detectives before his lawyer asked the court that he not appear until a later date.