Set the oven temperature to 400º F and apply a thin layer of butter or non-stick spray to a 9×13-inch baking dish.
Combine brown sugar, sugar, and nutmeg in a large saucepan over medium heat. Add butter and water, and stir until the mixture comes to a boil. Continue whisking until the sugar is completely dissolved.
Remove the mixture from the heat source and place it in a separate location.
Combine flour, sugar, baking powder, salt, cinnamon, and nutmeg in a spacious basin and mix well with a whisk.
Combine milk and vanilla extract, whisking until a smooth consistency is achieved. Then, gently incorporate chopped peaches into the mixture.
Transfer the contents onto a baking dish that has been coated with greasing, and then pour the topping over it.
Put in the oven and cook for 50-55 minutes, maybe covering with aluminum foil, until fully done.
Take out of the oven and let it cool for 15 minutes before serving.
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