Rural Victoria on flood watch

State Emergency Services volunteers survey the Queanbeyan River. Photo / Getty Images

Residents south of Shepparton in the Australian state of Victoria remain on emergency alert for flooding today as authorities monitor rising water levels in the area.

A State Emergency Service (SES) spokeswoman said the Goulburn River was expected to peak later this morning and this could isolate residents in the Kialla Lakes Estate.

"The emergency alert was sent out to Kialla Lakes yesterday to about 1000 residents there, just telling them that they might be isolated or there might be limited access to the estate" she said.

"The impact could be to 200 to 400 houses. That's really our main concern today."

Meanwhile, residents north of Kerang are also on emergency alert as authorities monitor the Loddon River which is still holding up after reaching its peak on Friday morning.

The alert was issued on Thursday night and up to 50 dwellings could be impacted as flood waters overflow levee banks.

"We're still monitoring that situation, just because of the privately owned levees in the area," she said.

"At this stage they haven't caused any problems, but as the river moves further down, more levees get impacted, so we will just have to see how that one goes in the coming days."

- AAP