The worst seems to be over for Wangaratta, with the Ovens River expected to slowly recede on Thursday morning.
Major flooding was expected to occur along the Lower Ovens River near Wangaratta late Wednesday night and early Thursday morning.
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Victorian weather: floods, evacuations and Port Melbourne surf
Residents in Victoria's north-east have been evacuated, while winds of over 100km/h brought down trees across the state and produced surf in Port Melbourne.
The State Emergency Service had earlier said it expected the river to peak between 12.7 to 12.8 metres.
SES state duty officer Andrew Murton said the water had peaked at Wangaratta at 9.30pm on Wednesday and was expected to recede.
Weatherzone: View the full weather satelliteAt 11pm, the river was at 12.77 metres.
"It is not expected to go any higher. We are hoping the water will start to recede."
Mr Murton said staff at the SES incident control centre in Benella were monitoring the situation.
"The levees are being inspected every two hours," he said.
"We have got no reports of flooding of houses in or around Wangaratta currently."A relief centre has been set up at Wangaratta Performing Arts Centre in Ford Street.
The Ovens River peaked near the town of Myrtleford about noon.
The Country Fire Authority has warned sewerage may be impacted in several Myrtleford streets following widepsread flooding.
It listed Standish and Maude Streets and Lewis Avenue as impacted areas.
But the CFA said no threat to the community was present and drinking water was safe.
North East Water admitted it was experiencing difficulties with parts of the sewerage system due to floods.
"I don't think I've seen the Ovens rise so quickly"
In Ovens, farmlands were transformed into lakes, houses were cut off, and residents were ordered to evacuate as floodwaters spread.
The paddocks along the Ovens River were inundated with water estimated to be at least two metres deep in places, knocking out fences and leaving crops under water.
"I am a 72-year-old and I don't think I've seen the Ovens rise so quickly - and that is because of the rain on Buffalo," local cattle producer Coffin McCormack said.
About 80 per cent of his 80-hectare farm was underwater on Wednesday.
The flooding alerts were the latest in a volatile few weeks for Victoria's weather.
Wednesday's chill delivered a light dusting of snow to the alps, with the temperature plunging to minus 4 degrees in some areas.
"Spring is notorious for volatile and changeable conditions," Bureau of Meteorology forecaster Richard Carlyon said. "And it's certainly been a wet start to spring."
Sunshine is expected to return to Melbourne on Thursday however, with a top of 26 degrees forecast for the city.
"But by Saturday it will be back to 18 degrees, so it is fluctuating a bit," Mr Carlyon said.
Flood rescue
A man was rescued from his ute after became stuck in floodwaters about 30 minutes from Myrtleford, in Victoria's north, on Wednesday, where an evacuation warning remains in place for residents.
The man drove into floodwaters at Tarrawingee, about 35 kilometres north-west of Myrtleford.
Rescue crews pulled him to safety using a rope and tractor about midday. He wasn't injured.
![A flooded caravan park in Wangaratta.](http://web.archive.org./web/20161007172412im_/http://www.smh.com.au/content/dam/images/g/r/u/v/d/4/image.imgtype.articleLeadwide.620x349.png/1475648467598.png)
A flooded caravan park in Wangaratta. Photo: Mark Jesser
Flooding on the plains, snowing on the alps
While low-lying areas flooded, it was snowing at the alpine resorts on Wednesday. Mt Hotham recorded 3.6 millimetres of snow. Falls Creek, where the mercury plunged to minus 4 degrees, and Mt Buller also received a light dusting.
"There have been light snow flutters up at those resorts," Mr Carlyon said. "The temperature has been below zero degrees all day."
Bright largely cut off
In Victoria's high country, the town of Bright - a four-hour drive north-east of Melbourne - has been largely cut off by floodwaters.
The Great Alpine Road, the main route in and out of Bright, was cut by floodwaters near Eurobin on Wednesday morning and could remain under water until Thursday.
"Bright is an island," one resident said.
A VicRoads spokesman said Bright was still accessible from the east, via Tawonga Gap Road.
"But it's a complicated route," he said. "If you don't have to travel to Bright, don't. Just wait and avoid it for now."
Around 220 roads across the state are flooded.
The road to Falls Creek has been closed after numerous landslides, landslips and trees blocked the Bogong High Plains Road between the ski village and Mount Beauty.
Myrtleford floods, but residents not 'overly worried'
At least two homes were flooded in the town of Myrtleford on the Ovens River as residents evacuated on Tuesday night. Holidaymakers were also ordered to leave the two caravan parks.
Floodwaters as far as the eye can see approaching Myrtleford, in the state's North @7NewsMelbourne https://t.co/fRRCoSvpJI
— Kristy Mayr (@KristyMayr7) October 5, 2016
More than 70 millimetres of rain has been recorded in the area since Tuesday morning, with the Ovens reaching six metres.
The floodwaters edged close to the rear of Myrtleford's Twin Valley Cafe on Wednesday afternoon but its owner, Carmel Kimball, was not concerned.
"We're not worried at all," she said.
"Last time we had the floods [in 2010] we weren't affected at all, it stayed off."
![graphic](http://web.archive.org./web/20161007172412im_/http://www.smh.com.au/cqstatic/12z7v7/0510ovensRiver729px.png)
John Goodman, who has lived in Myrtleford for 38 years, said this flood was nothing like what he saw in 1993.
The SES gave him sandbags to protect his hair salon on Monday afternoon before the waters rose.
"This took a long time to come up," he said. "I was concerned, but I wasn't really overly worried."
![Water rising from the Ovens River in nearby Wangaratta.](http://web.archive.org./web/20161007172412im_/http://www.smh.com.au/content/dam/images/g/r/u/v/h/u/image.imgtype.articleLeadwide.620x349.png/1475626885189.png)
But the rain in the state's north-east has given dogs a new playground. Photo: Mark Jesser
SES crews worked through the night, doorknocking homes in Myrtleford and helping elderly residents evacuate safely.
An emergency relief centre was set up at Myrtleford's senior citizens centre. One family was provided with emergency accommodation and 15 people took shelter with family and friends on Tuesday night.
"A number of caravan parks have been relocated," an SES spokesman said. "There's also a number of power outages up around that way as well."
![Cabins at Painters Island Caravan Park, in Wangaratta, threatened by flood waters.](http://web.archive.org./web/20161007172412im_/http://www.smh.com.au/content/dam/images/g/r/u/v/d/9/image.imgtype.articleLeadwide.620x349.png/1475626885254.png)
Holidaymakers at Painters Island Caravan Park, Wangaratta, have had a wet break. Photo: Mark Jesser
Rivers swelling after weekend deluge
This week's deluge, which follows an already wet start to spring, is seeing rivers in Victoria's north-east swell.
"Everything is just so water-logged," Mr Newlands said, of the Myrtleford area.
"We had 50 - 70 millimetres of rain on Sunday and Monday, and the Ovens River just couldn't cope. It was just too much to handle."
Major flood alerts have been issued for areas along the King, Kiewa, Loddon and Avoca rivers.
The Avoca is expected to peak on Wednesday night or Thursday morning at 7.3 metres, which is above major flood levels but about 30 centimetres short of the height reached during last month's flood event.
Bandiana, on the outskirts of Wodonga, is bracing for the Kiewa River to touch the major flood mark of 3.3m sometime on Wednesday afternoon or evening, the bureau said.
Residents in Charlton, in the state's north-west, as well as people living close to the Loddon River, near Bendigo, are also on alert.
If sewerage services are impacted, contact North East Water on 1300 361 644.
- with Darren Gray, Neelima Choahan, AAP