Prime Minister Scott Morrison will head into the 46th parliament with 77 seats in the lower house, after the final seat was determined on Friday.
Nationals candidate Anne Webster won the last seat to be finalised, Mallee in Victoria, on Liberal preferences.
Labor will have 68 seats, down one on its previous position, while there will be six MPs on the crossbench - one Green, one Centre Alliance, Queensland's Bob Katter and three independents.
Voters have put all major parties on notice with 36 seats out of 151 now considered to be marginal (held by under five per cent).
Nationwide, Labor received 33.34 per cent of the primary vote - a 1.4 per cent swing against the opposition party - while the coalition received 41.4 per cent.
The closest result was in the NSW seat of Macquarie, which Labor's Susan Templeman retained by 371 votes, making it the most marginal in the country (50.19 per cent on a two-party preferred basis).
The safest seat is Maranoa in western Queensland, held by minister David Littleproud by a 22.5 per cent margin.
The biggest negative swing was 9.5 per cent against Labor frontbencher Joel Fitzgibbon, who still managed to hold his NSW seat of Hunter by just under three per cent.
In all, only nine seats changed hands at the May 18 election.
Bass and Braddon in Tasmania and Lindsay in NSW were lost by Labor to the Liberals.
Corangamite and Dunkley in Victoria and Gilmore in NSW changed hands from the Liberals to Labor.
The Queensland seats of Herbert and Longman were lost by Labor to the Liberal National Party.
Former prime minister Tony Abbott's Sydney seat of Warringah fell to independent Zali Steggall.
Vote counting continues in the Senate election, but could conclude next week.
The new Senate is likely to comprise 35 coalition members, 26 Labor, nine Greens, two One Nation, two Centre Alliance, one Australian Conservatives and Senator Jacqui Lambie.
Liberal Zed Seselja and Labor's Katy Gallagher were confirmed as the two senators for the ACT on Friday.
Senator Seselja has been in the upper house since 2013, after nine years in the ACT Legislative Assembly.
His Labor counterpart - a former ACT chief minister - is returning to the Senate, where she sat for three years before being ruled ineligible in 2018 over dual citizenship.
The 46th parliament is set to open on July 2.
