A moderate flood warning was issued for the Molonglo River at Oaks Estate with water levels to peak at 6.1 metres at 3pm, after heavy rain pounded the eastern coast of Australia.

Up to 40 Queanbeyan SES volunteers worked throughout the night responding to leaking roofs and other emergencies, public information officer Brett Hunter said.

Unlike the death of a 37-year-old Kambah man in flood waters in the ACT, he said there were no critical incidents.

"We've had close to 50 callouts. They've been working all night, into the morning and they're back out today," he said.

"We'll be closely monitoring it. The river hasn't broken its banks and residents have nothing to worry about."

Long-time Queanbeyan local and recent Queanbeyan Riverside Caravan Park resident Ross Ferguson has weathered a fair few floods in his time.

Several caravans were moved to higher ground before the river's peak tide in the afternoon.

Despite up to 250 millimetres of rain falling in the previous 24 hours, Mr Ferguson described the flood as "reasonable" but not "extreme".

"It's been nice steady rain, not a deluge like Sydney," he said.

Despite this, he believes more money needs to be invested in flood mitigation in the Queanbeyan area.

"It doesn't happen that often but we only had one three years ago," he said.

"Flood mitigation is expensive and it'll take state and federal money to do it, especially since the amalgamation with Queanbeyan. It'll cost us a bit to prop up Palerang."