A teenage driver will face court today in Brisbane, charged with murder following the death of two pedestrians hit and killed while out walking their dog.

The boy was arrested a short time later after being held to the ground by a local resident when the teen allegedly tried to run from the scene.

Police allege the 17-year-old was driving a stolen Landcruiser 4WD when he went through a red light and ploughed into a truck at Alexandra Hills.

It's alleged the 4WD was stolen between 4pm and 5pm yesterday from a Cleveland house, prior to the deadly rampage.

Moments earlier, the 4WD was filmed appearing to engage in a road rage attack, deliberately colliding with a silver Hyundai at the intersection of Vienna and Finucane Roads before speeding away.

About 15 minutes later, he allegedly lost control of the 4WD after speeding through the red light at Finucane Road and Vienna Road and collided with the truck.

The Landcruiser rolled and struck two pedestrians crossing the road, they died at the scene.

They have been identified by police as a 31-year-old woman and 37-year-old man, both from Alexandra Hills.

It's understood the woman who was killed was pregnant at the time.

Their dog is believed to be uninjured and remains missing.

The teenage boy allegedly fled the scene of the crash just after 5.30pm and stole a set of keys from a Kingston Avenue house and tried to start a car in the garage.

The home's resident crash tackled the boy in nearby Chelsea Crescent and held him down before police arrived.

"I saw him walking across the lawn, acted like I was going to run him over, stopped, jumped out," the resident said.

"Got him on to the ground. He went to get up so I give him a kick or two, put him on his face and held him until the police arrived."

He arrested and taken to hospital for minor injuries.

The 17-year-old Waterford West teen has been charged with two counts of murder, one count of dangerous operation of a vehicle (adversely affected by an intoxicating substance), two counts of burglary and one count each of unlawful use of a motor vehicle and attempted unlawful use of a motor vehicle.

He'll face Brisbane Children's Court later today.