77yo man missing from NSW south coast

An elderly man who's been missing for three days on the NSW far south coast may have got a lift from a motorist as he wandered along a highway, police say.

Search parties have been looking for 77-year-old Raymond Speechley, who was last seen at a Dalmeny retirement home on Thursday afternoon.

Police have been told a man similar in description to Mr Speechley was seen on the Princes Highway in Dalmeny, just north of Narooma, on Thursday where a red vehicle was stopped nearby.

He was last seen wearing jeans and a dark jacket with a pyjama top underneath, and may have tried to get to the Wollongong area.

Police are concerned for Mr Speechley's welfare due to a medical condition along with the wet and cold conditions.