Thousands evacuate Forbes as BoM issues major flood warning for Wagga Wagga

More than a thousand residents have been evacuated in Forbes as the New South Wales Central West braces for major flood peaks across multiple towns across the weekend.

The Bureau of Meteorology (BoM) has issued a major warning for the Murrumbidgee and Tumut Rivers.

The BoM said floodwaters in Wagga Wagga could peak higher than the last major flood in December 2010.

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The Lachlan River in Forbes is currently sitting about 10.63 metres but it could overflow tonight and impact 500 homes.

If it reaches 10.8 metres as predicted, it will surpass the previous highest peak from 1952 and make it the largest flooding in 70 years.

NSW residents can stay up to date with the latest emergency warnings at the SES website.

The town's CBD was surrounded by a ring of floodwater by midday, with residents paddling in and out of the centre to collect their children and other belongings.

Resident Jessica Hogben told 9News everything in her home was "up off the floor".

"Sandbags are out and the pump's ready to go," Hogben said.

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"If it gets above the sandbags or it gets too much we just have to let it go through the house and deal with that later."

Craig Dwyer was born and raised in Forbes and told 9News he wouldn't be taking any chances.

"It's the unknown... We really don't know. It could very easily get inside," Dwyer said.

Dwyer emptied out the Mazda dealership he owns by driving dozens of vehicles to his home and packing up every document inside.

"We got up in the plane yesterday, went and had a look… evacuated straight away, (you) could see it," he said.

Residents have been filling sandbags with cracker dust after their supplies ran out, with the nearby towns of Parkes and Eugowra also shipping their supplies in. 

Forbes has had a major flooding event every seven years on average but locals say it doesn't make the situation any easier.

Emergency services are stressing to locals that this flood could be very different, as the region has suffered one flood after another.

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Dominic Perrottet announced grants of up to $25,000 for farmers in declared disaster zones. 

"Many coming back through drought and now on the way to having a bumper harvest and for that to be lost in this difficult time is a real challenge," Perrottet said.

Earlier, resident Rheeba Bevan said she thought the town "might end up running into some trouble".

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Bevan said some people in town think it won't reach that height, but is still concerned.

"We have dodged a couple of bullets but at some stage we are not going to dodge that bullet anymore," she said.

At Cowra, the Lachlan peaked at 13.34m overnight at about 9.15pm, and has since fallen to 10.66m.

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The Bureau expected it to settle to a minor flood level of 8.5m by this evening.

But the river is expected to remain at above the major flood level of 10.7m throughout the weekend at Nanami.

In the previous week, the NSW SES has responded to 2497 requests for assistance and 114 flood rescues.