As the frenzied counting of votes continues on Saturday evening, Tony Abbott trails in his seat of Warringah.
The ABC is predicting he will lose to Independent Zali Steggall with little more than eight per-cent of the vote counted there.
The former Prime Minister has almost 38 per-cent of the primary vote compared to Ms Steggall's 44 per-cent according to the official count on the AEC'S website.
Mr Abbott was strongly expected to deliver his concession speech shortly.
Labor's Dean Harris has 6.5 per-cent primary support.
After preferences, Ms Steggall leads 58 to 41 per-cent.
Home Affairs Minister Peter Dutton is on track to retain his Queensland Seat of Dickson.
With 36.7% of the vote counted in the seat, which takes in northern Brisbane suburbs as well as Kallangur, Mr Dutton leads the first preference count 44.9% to the ALP's Ali France on 32.7% according to the ABC.
Pre-polling indicated that Labor would win the Federal Election, knocking the Coalition out of office.
The ABC is reporting that the LNP has secured 62 seats, the ALP 59, the Greens one and Independents four.
The magic number of seats needed for either of the major parties to govern in their own right is 76. 24 are undecided.
By Michelle Price