Police locate body of woman in Eugowra believed to be missing woman Dianne Smith

A NSW Police spokesperson confirmed that a body of a woman had been found during a search around 11am on Wednesday.

While the body is yet to be formally identified it is be believed to be that of 60-year old woman Dianne Smith, who was reported missing on Monday.

Police are also continuing a search for 85-year old man Ljubisa Les Vugec who was last seen at a home in Evelyn Street, Eugowra, about 9am on Monday morning.

When family could not locate him or contact him, he was reported missing to officers from Central West Police District, who commenced an investigation into his whereabouts.

Family and police hold serious concerns for his welfare.

Eugowra has been left devastated after flash flooding swept through the town on Monday.

The inundation sparked a mammoth rescue effort, with every emergency service resource available including 14 helicopters deployed and people airlifted from their rooftops.

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