Single large cone shaped flying object with red and yellow flashing lights around the base.My husband and I were driving home from the health club. As we were pulling into our driveway, I noticed a low flying object which I assumed was an aeroplane. I remarked that it was flying quite low. I pointed it out to my husband and as we both took more notice of it, we realised it was not an aeroplane, but was a single cone shaped object with bright red and yellow flasing lights around the base. It was moving quite fast and then stopped and hovered in the sky. It then disappeared out of view behind houses in the distance. I ran down the road to see if I could find it again but it had gone. It was a very clear starry night with a full bright moon. This is the first time we have reported an unusual sighting such as this but felt we wanted to share our experience in case anyone else saw it too.