WIMMERA River continues to flood at a minor level near and downstream of Quantong Bridge.
A State Emergency Service spokesperson said on Thursday morning the river fell below the moderate flood level of 5.4 metres to 5.19 metres and would continue to drop.
They said after less rain fell than initially predicted in a severe weather warning, flooding was not expected to redevelop.
They said there was no longer flooding near Glenorchy.
The river at Walmer fell below the minor flood level at 2.8 metres on Tuesday and would continue to fall.
The SES has reminded people not to enter floodwater and to stay away from waterways during and after heavy rain.