Your City, your news, Melbourne's Gold 104.3.

A 4 o'clock update. Hi, I'm Rachel Stora.

At least 500 homes across Victoria have been inundated and another 500 cutoff as the state deals with a flooding emergency.

Currently in Melbourne, there's a watch and act alert in place for the Yarra River.

It's expected to peak at 9.2 metres this afternoon in Heidelberg, SES crews, doing the rounds,

telling residents to be prepared.

A watch and act also in place for the Werribee River, and after being woken up before dawn

and told to evacuate, some welcome news for residents in Maribinong.

Flood waters have started to recede after peaking this afternoon at 4.02 metres.

Federal MP Bill Shorten leaves not too far away from the evacuation zone.

He's told seven emergency crews have done an outstanding job.

There's been some 60 on-water rescues done by the SES boats, which is quite remarkable.

The best news is that there's been no loss of life.

Meantime, Premier Dan Andrews says Victorians, impacted by the floods, can now apply for disaster payments.

Already, there have been some 1,500 Victorians who have applied for emergency payments.

There are payments of just over $2,000 for eligible families and eligible families are those

who are out of their home because of this flood event.