A 3.1 magnitude earthquake has rocked a small town in Victoria’s east.

Residents near Woods Point, about 178km east of Melbourne, reported feeling tremors shortly after 5.20am on Wednesday.

Seismic activity monitors detected the shake at a depth of 1km.

Light sleepers and early risers quickly took to social media to report the quake.

‘Literally woke up from a dream about an earthquake. Continues…