The Liberals are holding out hope of snatching Eden-Monaro, despite Labor's Mike Kelly edging clear with almost three-quarter of the votes counted.
Mr Kelly was leading Liberal candidate Fiona Kotvojs 51.67 to 48.33 on a two-party-preferred basis, as of 1.30pm on Sunday.
That represents a 1.26 point swing against Mr Kelly, who took back the traditionally bellwether seat at the 2016 election.
Mr Kelly told supporters on Saturday night that it looked like Labor had "delivered the goods", but he declined to comment when contacted by The Canberra Times on Sunday.
Ms Kotvojs said early indications were that pre-poll votes would favour the Coalition, giving her hope that she might yet clinch the seat.
"I wouldn't say I'm confident or not confident, but it's still possible that we could win this," Ms Kotvojs said.
Saturday's result came as a shock to many, but Ms Kotvojs said she was "not surprised" that voters had elected to give the Coalition a third term in office.
"In my electorate, there was real concern about the impact [of Labor policies], particularly among small businesses and in the agricultural sector," she said.
"A lot of what they were telling me wasn't being reflected in the opinion polls."
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