Australian Prime Minister Malcolm Turnbull, who is seeking to lead the country's next government following national elections, said his party will be able to form a majority government in the next few days.

"Tonight, my friends, I can report that based on the advice I have from the party officials, we can have every confidence that we will form a coalition majority government in the next parliament," Turnbull told an audience of party workers and senior leaders in Sydney.

However he also conceded it has been a "very, very close count," with 30 per cent of votes yet to be counted.

The "final vote count will not be known for a few more days," he said, a little after midnight.

Around 80 per cent of the votes have been counted so far. Turnbull said the count would be stopped for the next two days, for unknown reasons.

The prime minister said the electoral commission would start counting the postal and absentee votes from Tuesday again, adding to the uncertainty over the next few days.

According to projections, the Turnbull-led coalition has failed to get an outright majority in the parliamentary elections, leading in 72 seats, four short of a majority, while the Labour Party, led by opposition leader Bill Shorten, is leading in 67 seats.

One went to the Greens, four to other independent candidates. Six seats were undetermined. The fight is for control of the majority of 150 seats in Australia's lower house of the parliament.

A hung parliament remained a possibility, Attorney General George Brandis said, but his colleague Treasurer Scott Morrisson said that the Liberal Party "will be able to form a majority government."

The "final vote count will not be know for a few more days," Turnbull said. "I am sure as the results are refined ... we will be able to form that majority government."

"The Labour Party does not have the capacity to form a stable majority government."

"Now is the time to unite in Australia's aid, in Australia's service, to ensure that we can have truly the very best years for our country ahead of us."

Earlier, Shorten also gave a speech to his party workers saying Turnbull can no longer promise stability with a government that's lost a clear mandate to govern.

"One thing is for sure, the Labor party is back," he said. "Whatever happens next week, Mr Turnbull will never be able to claim that the people of Australia have adopted his ideological agenda.

"He will never again be able to promise the stability which he has completely failed to deliver tonight."

Australia's politics has seen years of turmoil characterized by internal political feuds.

Turnbull came to power last year after ousting Tony Abbott in a Liberal Party coup, while Shorten took the Labor leadership after then prime minister Kevin Rudd lost the 2013 election to Abbott.

Turnbull led a coalition effort of center-right parties on an agenda of jobs and economic growth, while Shorten advocated for cheaper healthcare and education.

At one polling station in Bondi Beach Public School, Leo Schwarzmann, 54, stood in line with his wife and two puppies for more than an hour.

"I am a swing voter, not loyal to any parties. This time it's Malcolm Turnbull. I think he is more capable than other candidates to get the job done. He comes across as a reliable person," Schwarzmann said.

There are about 16 million registered voters in Australia. Voting is compulsory, and absconders are fined. In the last 2013 election the voter turnout was 93.2 per cent.

This year, around 3 million people have cast their ballot in early polls, while more than a million have posted their votes, according to Australian Electoral Commission.

Their spokesman said the turnout this year will be known only after a few days.

Latest news

Syrian opposition rules out future role for President al-Assad

The Syrian opposition said Friday it would not accept any role for President Bashar al-Assad in the future of the war-torn country, reacting to a recent US shift saying that removing al-Assad is no longer a priority for Washington.

Russian Army integrates breakaway forces of Georgian province

Parts of the small fighting forces of the Georgian breakaway province of South Ossetia have been placed under Russian military control, Russian Defence Minister Sergei Shoigu said on Friday.

Czech Republic's Pilsner Urquell beer is now Japanese

Japanese brewing company Asahi completed its takeover of the Czech brewery Pilsner Urquell on Friday, Asahi said in a statement.

Judge approves 25-million-dollar settlement of Trump University case

A US district judge on Friday approved a 25-million-dollar settlement of lawsuits and state fraud allegations against Trump University, the US president's now-defunct business venture.

Former Thai premier Thaksin to junta on reconciliation: 'Cut me out'

Former Thai prime minister Thaksin Shinawatra on Friday announced that he is not interested in the junta-led reconciliation process, three days after the junta handed him a half-a-billion-dollar tax bill for his past business deal.

Dalic: We welcome possible deal between Agrokor and banks

The government welcomes the possibility of an agreement being concluded between the Agrokor food company and creditor banks, and the bill on vitally important companies is not a fallback plan but the result of the government's care for the overall economic and financial stability of Croatia, Deputy Prime Minister and Minister of Economy Martina Dalic told a press conference in Zagreb on Friday.

Croatia, China sign action plan for cooperation in agriculture

The Croatian and Chinese ministries of agriculture on Friday signed an action plan for cooperation in the field of agriculture for the period 2017-2018, the Croatian ministry said in a statement.

ZSE indices up, Agrokor shares in focus of investor interest

The Zagreb Stock Exchange (ZSE) indices on Friday rose by more than 1.8%, with stocks of the Agrokor food and retail concern being in the focus of investor interest again.

Berlin police defend handling of Berlin market attacker

Berlin police defended themselves on Friday against accusations that they stopped surveillance on Berlin Christmas market attacker despite knowing in June 2016 he was dangerous.

Croatia, creditors tailor emergency measures to save tottering giant

Croatia's tottering retail and food giant Agrokor reached an agreement with its creditors, putting its debts standby and allowing it to continue working during emergency restructuring, the Croatian branch of Austria's Erste Bank said Friday.

Agrokor's creditors say standstill agreement to go into force today

A standstill agreement regarding the Agrokor concern's existing financial obligations to banks will take effect on Friday, additional capital will be injected into the concern in the coming days and the concern will be actively restructured, which includes a change of its management, it was said on Friday after a meeting between Agrokor's suppliers and creditor banks.

Palestinians, UN slam Israel's new settlement plan

Palestinians, Israeli activists and the UN lambasted the government of Israeli Prime Minister Benjamin Netanyahu on Friday, a day after it gave the go-ahead for the first new West Bank settlement in a quarter of a century.

South Sudan rebels release three abducted foreign oil workers

South Sudanese rebels have released three foreign engineers they abducted in early March in the oil-rich Upper Nile region, Foreign Affairs Ministry official Mawein Makol Arik said on Friday.

Turkish opposition: Imprisoned party chief has gone on hunger strike

The head of Turkey's pro-Kurdish opposition party has launched a hunger strike from prison.

European leagues threaten Champions League schedule clashes

The European Professional Football Leagues (EPFL) on Friday threatened schedule clashes on Champions League matchdays in an ongoing dispute with the governing body UEFA.

Danish court revokes citizenship of IS volunteer

A Danish appellate court on Friday stripped a man of his Danish citizenship for volunteering to fight for the extremist Islamic State in Syria.

Banks and Agrokor agree on key elements of standstill agreement

Member banks of the coordinating committee of financial creditors and representatives of the Agrokor food company have in principle agreed on key elements of a standstill agreement, which is expected to be signed later today, announcing changes in the company's management team, Erste Bank said in a statement on Friday afternoon.

Syrian man on trial in Sweden; mosque attack labelled terrorism

A Syrian man went on trial Friday in the southern Swedish city of Malmo, charged with terrorism and arson after an attack last year on a building used as an assembly hall by Shiite Muslims.