3.50PM: NSW Premier Barry O'Farrell is currently in Grafton. He says the town is currently experiencing the biggest flood in its history.
Clarence Valley Mayor Richie Williamson joined the Premier for a joint press conference on the situation, saying the recovery effort will also have to be the biggest on record.
3.40PM: Some images taken from around Bundaberg, where there are fears for around 2,000 homes and 200 businesses.
Local Robert Hicks looks at the damage as parts of southern Queensland experiences record flooding in the wake of Tropical Cyclone Oswald. (Getty Images)
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An aerial view of Bundaberg shows widespread flooding across the region. (Getty Images)
The Australian Air Force helps with evacuations at Bundaberg airport. (Getty Images)
3.30PM: A Red Cross worker in Bundaberg says tension is still high among people evacuated from the city's north, as they fear for their homes during the city's worst flood disaster.
Karen Nunan is coordinating evacuations at the showgrounds centre near Bundaberg airport.
Ms Nunan told Nikki Canning it's a scene of carefully controlled chaos, but local volunteers are helping with food, clothing and bedding.
LISTEN: Tensions 'high' among Bundaberg evacuees
3.20PM: Brisbane residents have been warned to restrict their water usage due to the forced closure of a treatment plant due to flooding.
Premier Newman: "The big issue in Brisbane is water. Muddy water from the flood has caused the treatment plants at Mt Crosby to have to shut down.
"We need people to conserve water right now. Only use water for cooking, drinking, bathing. Do NOT top up pools, wash down driveways etc.
"Drinking water may taste different over the next few days, but it is safe to drink."
3.15PM: A summary of Queensland flood-affected areas as outlined by Premier Newman:
Eidsvold, Monto, Gayndah and Mundubberra: Aircraft supplying the area
Rockhampton: River still rising and will peak on Saturday
Lockyer Valley: Queensland government working to sort out resupply issues
Ipswich: Flood peak was 13.9m on Monday night, lower than anticipated
Brisbane: Muddy water from the flood has caused the treatment plant to close down. Water production could take days to re-start.
Bundaberg: Still of primary concern. River expected to peak immanently, affecting 2000 homes and around 200 businesses.
3PM: Bundaberg update from Queensland Premier Campbell Newman:
BUNDABERG - The river is expected to peak right about now. Will affect 2000 homes and about 200 businesses. - PT #bigwet
Patients have been evacuated from the Bundaberg Hospital to Brisbane.
Click here for the latest update from the bureau on the Burnett River (issued at 1pm today).
2.45PM: Raw footage shot over Grafton shows isolated houses surrounded by floodwaters, with the big wet stretching as far as the eye can see.
Streets have turned liquid and businesses have been abandoned. It will no doubt take this community a long time to recover from ex-Tropical Cyclone Oswald's unwelcome legacy.
WATCH: Raw vision of Grafton floodwaters
2.30PM: The Queensland Police Service Media Unit has just reported via Twitter that New England Highway between Warwick and Toowoomba has re-opened, with delays expected.
There are still many roads closed due to flooding across Queensland and New South Wales.
Click here for detailed traffic information for Queensland
Click here to view detailed traffic information for New South Wales
2PM: The Clarence River at Grafton appears to have peaked just two centimetres below the top of the levee wall in the flood-hit northern NSW town.
Sam Colwell of the Clarence-Nambucca State Emergency Service says the river is believed to have peaked at midday (AEDT) on Tuesday, at a record level of 8.08 metres.
These aerial images show the extent of damage left by rainwater sweeping through the town (Images: Ten)
View more images: Deluge reaches NSW
1.15PM: More than 10 evacuation centres operated by the Red Cross have been opened across Queensland, the organisation says.
Mel Patterson, a Red Cross officer at an evacuation centre in Bundaberg, says more than 450 people stayed there last night.
Rising flood waters are likely to push several thousand people from their homes in Bundaberg.
The Red Cross is appealing for donations to help those affected by floods in NSW and Queensland. For more information, visit www.redcross.org.au.
1PM: Another piece of positive news, the Brisbane River has peaked below predictions, according to reports.
The city's Lord Mayor Graham Quirk says homes in Brisbane have been spared serious damage so far.
Images: Brisbane River swollen due to flood waters (by @Kathy_Novak)
12.45PM: There's some relief for the south-east coast of the country, with the latest satellite image from the Bureau of Meteorology showing ex-Tropical Cyclone Oswald has largely moved offshore.
There are still a number of warnings in place for the region, including for damaging surf.
12PM: Fire danger is still present across parts of rural Victoria. A 'watch and act' advisory remains in place for Violet Town-Harry's Creek Road, with a large, slow-moving fire burning in the area. More details.
11AM: Ex-Tropical Cyclone Oswald moved south through New South Wales overnight, hitting metropolitan Sydney in the early hours of the morning.
There are still 14 flood warnings in place for the state, with particular concern for the Clarence River, expected to peak around midday.
Some 2,500 people have been evacuated from Grafton amid fears the river could cause record flooding.
10.30AM: Tragically, a three-year-old boy has died of injuries after becoming trapped under a gumtree in Queensland yesterday.
This latest incident brings the toll from ex-Tropical Cyclone Oswald to four in Queensland. Read more.
10AM: It has been a tense night in Brisbane and other flood-hit areas of Queensland, where many flood peaks have not yet been reached.
WATCH: Kathy Novak with an update on extensive flooding in the Queensland capital.
9AM: Another morning of extreme weather for parts of the south-east coast. Here's our list of warnings, updates and services for those seeking further information on any of the current emergency situations.
