“We didn’t do well enough during this campaign, that much is obvious tonight,” he told party supporters in Brisbane.

“I’ve always wanted in public life for the best for our country and the best for every Australian.

“It’s an historic occasion for the Labor Party, and we recognise that.”

Expectations of a coalition victory were already low after opinion polls showed a dive in support over the campaign.

But the mood in Liberal HQ at the W Hotel in Brisbane turned definitively dour as the first numbers began to trickle in on Saturday night.

ABC pollster Antony Green said with 34 per cent of the votes counted in Dickson that the Opposition Leader had been voted out.

“It appears he has lost that seat,”  Green said.

It looks very difficult for Peter Dutton to retain his seat there, the numbers are swinging against him.”

Green earlier declared Labor the winner of the federal election, saying it was hard to see the Coalition winning.

“Whether this is going to translate into Labor having a win or a big win, it is going to take a lot more to go,” he said.

The atmosphere at Liberal HQ was subdued. Photo: AAP

Dutton projected confidence as he voted in his electorate of Dickson earlier on Saturday.

“I think a lot of quiet Australians would come out today to support the coalition and I’m looking forward to the outcome tonight,” he told reporters at Albany Creek State School in Brisbane’s north.

But he was much less optimistic after early counting showed him trailing Labor’s France in Dickson

“We believe in miracles. But it’s tough,” he told Channel Nine.

The Coalition was behind in 14 seats it held and was not on track to win any seats from the government.

A lone bright spot for the Liberals was opposition immigration spokesman Dan Tehan, who looked to have seen off a challenge from independent Alex Dyson in his regional Victorian seat of Wannon, with a swing towards him of 0.9 per cent.

Votes are expected to come back towards the coalition as counting progresses.

Pre-poll and postal votes are counted after on-the-day votes and tend to perform better for the coalition as they skew towards older voters.

-with AAP