Malcolm Turnbull has accepted full responsibility for the coalition's campaign that might result in it losing majority government.
"Absolutely full responsibility for the campaign," the prime minister told reporters in Sydney.
"The Australian people have voted, and we respect the result."
Mr Turnbull conceded there was a level of disillusionment with politics, government, and the major parties.
"We need to listen very carefully to the concerns of the Australian people expressed through this election."
Mr Turnbull again accused Labor of cynically abusing the trust of Australians by lying to them about a secret coalition plan for the privatisation of Medicare.
"This was a shocking lie. I'm not going to pretend it's anything else.
"But a fact that significant numbers of people believed it or at least believed it enough to change their vote, tells us that we have work to do and we are committed to that."
Mr Turnbull said the government would have to do more to reaffirm the people's faith in the coalition's commitment to health and to Medicare.
The prime minister said he remained confident the coalition could secure a majority in the new parliament.
There were other issues relating to general distrust or sense of disenfranchisement from government.
"We will work harder, much harder, to again ensure that Australians understand our very deep commitment to them," Mr Turnbull said.
"It's about their dreams, their aspirations, their families, their sense of security, their anxieties about the future, about government services, whether they can keep their job, whether they will get a better job and so forth."
Deputy Prime Minister Barnaby Joyce is confident "but not cocky" the coalition will form government in the coming days or weeks.
"To be here with the prime minister today is a clear statement to the Australian people that we accept the result of the ballot box and we acknowledge that there is work to do," he said.
