Prime Minister John Key says he's looking forward to working with Australia's Prime Minister-elect Tony Abbott.
Mr Abbott, leader of the Liberal Party, claimed victory at about 10.15pm (AEST) on Saturday, 40 minutes after Prime Minister Kevin Rudd publicly conceded.
Mr Rudd has also stepped down as leader of the Labor Party.
Mr Key said he had passed his congratulations on to Mr Abbott on Saturday night and would congratulate him in person on Sunday.
"I look forward to working with Australia's new prime minister to build on the close unique relationship that exists between New Zealand and Australia."
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They would have several opportunities to meet during the next few months, he said.
"Australia is our most important relationship. Our common interests span trade, economic, defence and security matters and we co-operate closely in our region and on the international stage."
Mr Key thanked Mr Rudd and his predecessor Julia Gillard, who had ensured the relationship between the countries strengthened.
"I look forward to this continuing during Tony Abbott's prime ministership."
"When Australia changes horses, New Zealand needs to take stock," New Zealand's Herald on Sunday editorial said.
Questions of interest to New Zealand did not feature in the election campaign and Mr Abbott ducked a question about the plight of New Zealand migrants, while reminding people he was married to a New Zealander.
"The value of family ties cannot be overstated. But the chemistry between Prime Ministers will count for more," the Herald on Sunday said.
