Prime Minister Chris Luxon has claimed “a pathway” to a second term, though New Zealand’s cliffhanger election result will not be known for weeks.

A narrow re-election for Luxon’s conservative government, a Labour-led opposition win or even a dreaded deadlocked parliament are all outcomes still on the table.

Luxon waited until after midnight to appear at his National party’s election night function, with his three-party coalition ahead but not yet victorious.

“Tonight New Zealand has voted, and it looks like an MMP special,” Luxon said, a reference to New Zealand’s convoluted electoral system.

“We have a pathway to forming the next government. It is too close to call.”

The National, ACT and NZ First parties had a projected count of 67 seats, according to the electoral commission.

Chris Hipkins with fiance Toni Grace at Labour’s election night event. Photo: AAP

Opposition parties Labour, the Greens and the Māori Party – as well as new force Opportunity – combined for 63 seats.

That will change once “special votes” – out-of-electorate and overseas ballots – which typically favour the left, are added to the mix.

They will all be included on November 27, when the final results are released.

Labour leader Chris Hipkins, addressing the party faithful in Wellington, did not concede but was much less cheerful than his opponent.

Downnbeat ministers Nicola Willis and Paul Goldsmith speak to media.

The government lost two powerhouse ministers in Nicola Willis and Paul Goldsmith. Photo: AAP

“As things stand tonight, it’s clear we’re not going to know the exact shape of the next government for a little while longer yet,” he said.

“When the final result is known, I’ll have quite a bit more to say.”

The result of the election has been in the balance for the entirety of the six-week campaign, which was dominated by cost of living issues.

What is clear is that National have lost a string of key personnel.

Finance Minister Nicola Willis, Defence Minister Paul Goldsmith and Speaker Gerry Brownlee conceded their races, while Transport Minister Chris Bishop is also a likely loser in a tough race.

NZ Minister of Defence and National MP Paul Goldsmith lost his seat.

Paul Goldsmith, who held 11 portfolios including defence, lost his seat. Photo: AAP

“It is looking very unlikely I will be returned,” a grim Willis said, saying a “process of renewal” was underway.

Teal force Opportunity has also won its way into parliament, winning six per cent of the vote to send seven MPs to Wellington.

With 97 per cent of the count completed – before special votes – National had 29.3 of the vote, with Labour on 29.2.

The Greens recorded their best ever national vote, on 13.3 per cent, as did ACT, on 11 per cent, while NZ First was at 9.8 per cent.

Opportunity, a centrist party, appears set to win its first parliamentary seats. Photo: AAP

The Māori Party recorded just 0.6 per cent of the vote, but is likely to return at least four MPs.

Those national voteshares are less important than the total number of seats each party and their coalition partners will win in the next parliament.

National’s weak party vote but strong showing in electorates will produce an “overhang”, which is a distortion of the electoral system.

If they are to prevail, they will need to hold onto a clutch of close-run electorates, including Hamilton East, where the lead was 456 votes, and in Wairarapa, where the lead was just 69 votes.

David Seymour might have his biggest caucus but is unsure whether he will govern. Photo: AAP

ACT leader and deputy prime minister David Seymour said he didn’t know whether he would be returning to government.

“It’s going to take some time before it becomes clear,” he said of the overall outcome.

“What I do know is it’s a record result for ACT tonight and we are so happy.”