Australia election results: Anthony Albanese set to return as PM as Labor Party wins polls; oppn leader Dutton concedes

Australian Prime Minister Anthony Albanese is all set to return as the Prime Minister as his centre-left Labor Party won the country's elections on Saturday.

Opposition leader Peter Dutton conceded defeat in Saturday's election. 

He took full responsibility of the loss in the Australian elections.

“We didn’t do well enough during this campaign, that much is obvious tonight, and I accept full responsibility for that,” he said.

The Australian election results were declared on Saturday, May 3.

Dutton termed the election win as a historic occasion for the Labor Party.

“Earlier on, I called the prime minister to congratulate him on his success tonight. It’s an historic occasion for the Labor Party and we recognise that,” he said.

With Saturday's Australian election win, Anthony Albanese will be the Prime Minister for three more years. He has become the first Australian prime minister to win a second consecutive three-year term in 21 years.

(This is a breaking news story. Check back for updates)