A UFO has been spotted hovering over Melbourne’s southeast as residents report they’ve never seen anything quite like it.

Flashing red, green, and blue, the light sat still over Carnegie for more than an hour.

“It’s really weird,” Toni Koromilas said, taking a video of the flashing lights from her sister’s Carnegie home.

“Someone said it could be a helicopter but it’s not moving, it’s been there for an hour now.

To read more and view the video, click here.