In a statement this evening, Fiona Kotvojs announced she had "spoken to Kristy McBain and congratulated her on being elected as the Member for Eden-Monaro".

"I wish Kristy and her family all the best as she takes on this new role," Ms Kotvojs said.

"While not elected, for me, it was a privilege to stand as the Liberal candidate for Eden-Monaro; to seek the opportunity to represent, and work for, the people of our community," Ms Kotvojs said.

On Sunday, the morning after the polling stations had closed, Opposition Leader Anthony Albanese joined Ms McBain in claiming the narrow victory, saying it was expected that the Labor candidate would receive up to 1000 more votes than her fellow candidates.

Ms McBain, who is the former mayor of Bega, will hold the seat for Labor after Mike Kelly resigned earlier this year.

Moments ago, Ms McBain formally accepted the victory with a statement on her twitter profile.

"A short time ago, I received a phone call from Liberal candidate, Fiona Kotvojs, congratulating me on being elected the next member of Eden-Monaro," Ms McBain wrote.

"I want to thank Fiona for running a hard-fought campaign."

Ms Kotvojs went on to thank the community and Liberal party leadership for their involvement in the campaign.

"In Eden-Monaro, it will come down to just a few hundred votes," she said.

"To each person who took the time to consider and cast an informed vote - regardless of who it was for- , you have contributed to our democratic process.

"May we never take it for granted, may we continue to value and uphold it, and may we always do the same for each other."