Floodwaters in Duncan and North Cowichan, B.C., receded Saturday, allowing hundreds of displaced residents to return to their water-damaged homes.

The southern Vancouver Island communities were rocked by severe storm weather this week, which caused the Cowichan and Koksilah rivers to spill their banks early Friday morning at high tide.

The B.C. Environment River Forecast Centre recorded a seven-year high water level for the Cowichan River early Friday morning, peaking at 3.385 metres around 5:30 a.m.

Roughly 300 homes were evacuated.

In Pictures: Vancouver Island flooding

City crews worked overnight pumping water and sandbagging danger areas. By noon Saturday all evacuees were allowed to return home.

North Cowichan public information officer Joe Barry told ctvbc.ca that an outpouring of community support has sped up cleaning efforts significantly.

"The sheer number of volunteers, private citizens, has been overwhelming," Barry said. "And businesses like Walmart, Panago and Thrifty Foods have all chipped in too."

Beverly Street, a vital transportation route, has also been cleared and reopened. Lakes Road remains closed.

A number of recovered belongings, including patio furniture, children's toys and wood have been collected, and are available to be picked up at the North Cowichan dog park.

Local residents appear to be holding up well under the circumstances. Gordon Lecouffe joked about having to change his daily routine.

"I had to put my bathing suit on to get out of my house this morning," he said. "I'm driving down the street and I've got three inches of water sloshing on the floor of my car."

More storm systems expected

Meanwhile, city staff and engineers are meeting to discuss a potential second wave of flood activity on Saturday evening.

Environment Canada expects rain to hit the area this afternoon that could continue until 4 a.m. Sunday. Roughly 20 to 30 millimetres of rainfall is anticipated.

On Friday, the province announced it had approved disaster financial assistance to the Comox Valley Regional District, Nanaimo Regional District, Cowichan Valley Regional District and Strathcona Regional District.

To be eligible for assistance, the damage must be from an uninsurable event such as overland flooding, the province said. Snowload and wind damage are examples of insurable damage and therefore not eligible for DFA assistance.

Claim forms are available by clicking here.