Aggravated burglaries at residential homes in Yarragon and Warragul on Sunday morning have been linked.
Police believe the offenders were travelling in a stolen red Mitsubishi ASX wagon and are seeking information on its movements in the district.
The vehicle, with registration "1IN 7TM", was reported stolen from a Broadmeadows gym on Monday, November 4.
Police said three to four people gained entry to a Hazeldean Rd property in Yarragon via an unlocked front door at 2.26am.
They allege three sets of car keys along with a wallet were stolen.
However, the group - believed to be teenagers - were heard and chased by a resident. They ran towards the waiting red SUV which was last seen heading towards Warragul.
One male was described as Caucasian, in his late teens and wearing a cap.
The red SUV was captured on CCTV in Somerset Dr in Warragul shortly afterwards.
The group appeared to check out vehicles within the vicinity, leaving and then returning to gain entry to a house.
Once inside, they stole a set of keys and a white Hyundai i30.
The car, with registration plates "1PC 7ZG", has not yet been recovered.