A man has died after he fell from a hot air balloon in Preston just after 7:30 this morning.

Today reporter, Iza Staskowski, says sirens, and a “thud” was heard by neighbours as power lines were brought down.

“They’re [Police} speaking to other people who were in the hot air balloon, and other witnesses, and they’re not entirely sure how it’d happened,” she told Tom Elliott.

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The hot air balloon landed safely at the Yarra Bend park.

Police have closed off both sides of Albert Street, and will prepare a report for the coroner.

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Image: Nine News/The Today Show.