A man has been assaulted and had his car stolen in a violent aggravated burglary at Waurn Ponds this morning.

Two offenders armed with knives broke into the Rene Street home in Waurn Ponds about 12.10am.

They assaulted the 29-year-old occupant, stole his phone, iPad and watches, and fled in a white Mercedes.

The man wasn’t seriously injured.

Police spotted the car about 20 minutes later on Barrabool Street in Belmont.

The vehicle was involved in a crash near the High Street intersection.

A number of youths fled the vehicle on foot.

Three female suspects — aged 18, 17 and 15, from the Geelong region — were arrested shortly after the accident.

One of the girls has been charged with theft of a motor vehicle.

Two 17-year-old males, one from Hamlyn Heights and one from Deer Park, were arrested later this morning.

Police are not looking for anyone else in relation to the incident.