Welcome back to our live coverage of the Australian election. If you’re just joining us, here’s a recap of what went down.

In a stunning turnaround, Australian Prime Minister Anthony Albanese has held onto his leadership - and done so with an unexpected majority - giving his centre-left Labor Party another three years in power.

His rival Peter Dutton, leader of the right-wing Liberal National Coalition, not only lost out on the top spot, but lost his seat in parliament too. With hard-line conservative policies that saw him compared to US President Donald Trump, the “Trump-effect” appears to have turned many Australians off his campaign.

Votes are still being counted - and will be for a few days now - but Albanese’s majority is clear.

Stay with us as we bring you updates in the wake of this landmark election result.

Seher Asaf
Live reporter

Image source, EPA

Australia's Prime Minister Anthony Albanese has secured a stunning election win against Peter Dutton, the leader of the Liberal-National Coalition.

Albanese has won re-election with a clear majority, having secured 85 seats in the House of Representatives, while the Liberal-National Coalition has 41, according to ABC's live result tracker - with 65% votes counted.

In his victory speech, Albanese declared "Australians have chosen optimism and determination" in a time of global uncertainty.

For the opposition leader, the night went from bad to worse after Dutton lost his own seat of Dickson. He admitted to not doing well enough during the campaign, saying he takes "full responsibility" for the loss.

It was an election cycle that was overshadowed by the incumbent at the White House - US President Donald Trump - as well as pressing domestic issues including the cost-of-living crisis, public healthcare and unaffordable housing.

We are ending our live coverage of the Australian election, but you can stay across the latest updates and analysis on BBC News:

• Australia PM Albanese makes stunning comeback with landslide win
• He wanted to be Australia's PM. But a 'Trump effect' thwarted Peter Dutton
• A look at how Australia voted - in charts

Image source, Reuters

With 63% of votes counted, let's take a look at the current picture in the House of Representatives, according to ABC's live election tracker:

• The Labor party currently has 85 seats - it needed 76 to win the election
• The Liberal–National coalition has 41 seats
• Greens don't currently have any seats
• Independent candidates currently have nine seats in the House

Kelly Ng
Reporting from Brisbane

What a day it's been for the Coalition and its supporters.

The outcome of this election is absolutely not what they had hoped for - the dismay and despondency were palpable at their watch party in Brisbane as the night went on.

Dutton's supporters, many of them decked out in blue, watched with high spirits initially, but that didn't last long.

Soon, I heard many swearing and sighing as early counts showed many seats that the Coalition was eyeing, went to Labor.

The room cleared out fairly swiftly, less than an hour after the opposition gave his concession speech.

• The winner: Albanese

For a hundred years, Australians have always re-elected first-term prime ministers. But a month ago, it looked like Albanese could lose this one. So, how did he turn it around?

For a start, his campaign was solid. But, the gamechanger was Donald Trump convincing people he was the safe pair of hands in an uncertain world

• The loser: Dutton

Did Trump hurt the Conservative leader? Trump was a massive part of that. Dutton's attempts to borrow from the Trump play book didn't play well with Australian voters.

• The new government

The new government has its work cut out. It's got to deal with domestic issues, like the cost-of-living crisis and housing, and also has to tackle global issues such as, Trump, China, tariffs, global trade wars.

You can read more: A 'Trump effect' thwarted Peter Dutton

Image source, EPA

"I think it was exceptionally gracious, Peter Dutton's speech," treasurer Jim Chalmers says on ABC, adding that his speech was "especially classy" and "must absolutely sting".

"And I think it says something very good about our country that two guys who have been going at it for three years can set an example like they set tonight."

Chalmers says the Albanese government would focus on policies around housing, energy transformation and tax cuts. The Labor government's ambitions will depend a lot on how things play out in the Senate, he adds.

Kelly Ng
Reporting from Brisbane

Image source, BBC/Kelly Ng

Jitendra Prasad, 62, is about to leave the Coalition watch party after a disappointing outcome.

"We lost, so we go," says the Brisbane resident.

"I personally feel like we should have had a change of government, but well, this is democracy."

"[In] many countries [people] don't have the right to vote, and this is what it is all about. We've got to accept the result and move on."

Prasad attributes LNP's loss to a poorly executed campaign. "Our message was confusing... Labor had a tight and very disciplined campaign."

Simon Atkinson
Reporting from the Labor watch party in Sydney

After a quick tour of the room and shaking hands with party supporters, Anthony Albanese brushes off attempts at an interview and leaves to huge applause.

The tables are piled high with empty Albo beer cans and, although the crowd is definitely thinning out, you get the sense that for some it’s going to be a long night of partying.

Kelly Ng
Reporting from Brisbane

Former Liberal PM Tony Abbott returns to a significantly emptier room, and tells journalists that Dutton "gave his all" and "is entitled to be extremely proud of his public service to our nation".

He congratulates Albanese, but says he is worried that the re-elected Labor government will "double down" on issues the LNP find concerning.

"I very much fear... that the economic stagnation gets accelerated and the social division will get worse."

If the Coalition can "create a clear contest and a strong contrast" over the next term, it can "certainly be competitive and give Australia the best possible alternative", Abbott says.

He declined to answer further questions from journalists.

Anthony Albanese spoke about today's election results in a statement a short while ago.

"Australian people have voted for Australian values," he said. "For fairness, aspiration, and opportunity for all".

"In this time of global uncertainty, Australians have chosen optimism and determination," he added.

This is what the House of Representatives looks like as of 22:44 local time (13:44 BST), according to ABC's projections.

As we've reported, opposition leader Dutton has conceded defeat.

Here's the moment it happened:

Katy Watson
Reporting from Sydney

As Albanese gave his speech, there was constant cheering in the room as he spoke, with lots of people in "Team Albo" T-shirts chanting and clapping.

But outside the venue, there’s a small Palestinian protest, and security is tight.

With "optimism and determination" and "faith in each other, we return to the work of building Australia's future," Albanese says. "Thank you all."

He raises his hands and waves before walking off the stage.

"My fellow Australians," Albanese begins.

"Serving as your prime minister is the greatest honour of my life."

Watch below to see how the crowd reacts to Albanese's victory speech:

Albanese has promised cheaper child care, and support for those on the national disability insurance scheme. He also says the government will provide support for workers trying to acquire new skills.

"Our government will dedicate the next three years to making a positive difference to your lives and to your future," he says.

He also pledges climate action and an emphasis on renewable energy, which he says "we must seize for the future or our economy".

He raises his green Medicare card again - something he has regularly done during his campaign - to a roaring crowd. "Medicare belongs to all Australians and together we will make it stronger for all Australians," he says.

"We will be a government that supports reconciliation with First Nations people because we will be a stronger nation when we close the gap between indigenous and non-indigeneous Australians," he goes on to say.

Albanese says he will be "back at work tomorrow", adding that his team will "take on this task, with new hope, new confidence and new determination.

"Because together we are turning the corner and together we are making our way forward, with no one held back and no one left behind."

The world has "thrown a lot at our country over the past three years", Albanese says.

"That is why it means so much that in these uncertain times the people of Australia have placed their trust in Labor once again."

Labor will not take that trust "for granted", he says.

Albanese starts to talk about Dutton, his opponent who called him earlier to concede. As the crowd started to jeer at the mention of Dutton, Albanese raised an index finger to stop them. He says: "No. What we do in Australia is we treat people with respect."

"I thank Peter for his generous words at the end of what has been a very hard fought campaign," he says. "And I wanna take this opportunity to wish Peter and Kirilly and their family all the very best for the future."