A man armed with a hammer allegedly threatened two people and attempted to steal their cars in Melbourne’s inner east this afternoon.

A man has been arrested over the incident that occurred in broad daylight on Victoria Street, Richmond just after midday today.

In shocking vision exclusively obtained by 9News, the man can be seen swinging a hammer at two drivers in what was believed to be an attempt to steal their cars.

A man armed with a hammer has threatened two people. (9News)
A man was treated by paramedics are injuries after the incident. (9News)

The vision shows the man getting into one of the cars before he gets out again after it’s believed he was unable to start the vehicle.

The man then appears to walk away casually while swinging the hammer before returning to smash the windows of one of the cars.

The man was then seen walking away into the back streets of Richmond.

Police are yet to lay charges. (9News)
The alleged culprit was captured by police a short time later in Richmond. (9News)

Police caught up with the man about 20 minutes later down a laneway off Lennox Street.

One of the drivers of the cars was treated by paramedics for minor injuries.

The accused man has been arrested but no charges have been laid.

Police are investigating.

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