In a statement, police said they had located a body in Highview Terrace about 8.30am today, following an extensive search and rescue effort.
They were earlier seeking reports on the location of Queenstown woman Suzanne Frew, who was last seen driving her silver Mitsubishi Outlander in Frankton Rd on Monday morning.
While formal identification had yet to be completed, police said they understood this to be the woman reported missing on Monday.
The matter was not being treated as suspicious and has been referred to the Coroner.
Police thanked search and rescue volunteers and members of the public that helped with the search effort.
