Australia's flood crisis was set to cost in excess of $530 million in New South Wales alone and more rain was on the way, the state government said, according to AFP.Eastern Australia has endured torrential rainfall for more than a week, leaving hundreds of homes flooded, damaging roads and bridges and soaking farmland in Queensland, New South Wales and Victoria states.

In Sydney, where heavy rain Thursday swept away cars and flooded railway lines, residents on the city's northwestern outskirts were being urged to prepare to evacuate their homes.

Further inland, residents of the country towns of Condobolin and Narrandera were bracing for the coming floods and people in the Victoria town of Nathalia were hoping their levee would hold.

Elsewhere, such as in New South Wales's biggest inland city of Wagga Wagga, emergency officials began the massive clean-up as flood waters began to subside. But residents were still faced with waterlogged homes and farms.

So far two people have died in the floods, after they attempted to cross waterways in cars.