SYDNEY: Australian Prime Minister Scott Morrison said he had conceded defeat in a national election on Saturday, saying that while vote counting was incomplete the opposition Labor party looked likely to form a government.

"Tonight I have spoken to the Leader of the Opposition and the incoming Prime Minister, Anthony Albanese, and I've congratulated him on his election victory this evening," Morrison said at a televised speech in Sydney.

Morrison added that he would stand down as leader of the Liberal party.

Australia PM makes final push for re-election

The capitulation ends eight years and nine months in power for Morrison's conservative coalition. Morrison became prime minister in 2018 after several leadership changes.