Queensland Premier Campbell Newman has conceded his seat of Ashgrove to Labor's Kate Jones in the state election, admitting defeat to his supporters and congratulating Ms Jones on her win.

ABC election analyst Antony Green was predicting that Labor would scrape into office with 46 seats.

At 10:55pm (AEST) LNP had secured 40 seats and Labor 43, including Leeanne Enoch, who is on track to become Queensland's first female indigenous MP.
YouTube: Kate Jones thanks supporters as she claims victory in seat of Ashgrove

Labor Leader Annastacia Palaszczuk, who has so far achieved a 19 per cent swing in her Inala electorate, said that three years ago Labor did not believed it could come this close to victory.

"It's still too close to call at present, but I'm very hopeful that we will be able to form government in this state," she said.

"Can I thank the union movement," she said.

"Because it it is the union movement that stands up each and every day and fights for better conditions for workers across this state."

Ms Palaszczuk campaigned on a "no asset sale agenda" and said a Labor government would not offload the $37 billion worth of assets the LNP wanted to privatise.

"Let's put the past three years behind us," she said.

"Let's have a consensus government where we bring people together, where we listen and where he unite.

"Tomorrow we begin a brand new chapter in Queensland's history."

Mr Green said it was an extraordinary return back to the Labor Party.

"Mansfield and Whitsunday are the two doubtful seats," he said.

"If Labor wins both they're in government; if they win one of those I suspect they're in government.

"It looks like at the moment it is a very narrow Labor majority.

"There are still some seats still to call, but at the moment there's a high likelihood we could get hung parliament. I've got the Labor Party on 45 seats."

"There's lot of votes to come, a lot of votes to be counted tonight but this an extraordinary result and I think it's too close to call yet."

Who gives their kid a surname for a first name?

This is soooo fantastic!

The people of Queensland are not fools, they know when they're being scammed and taken for idiots by a foolish man that was so arrogant he  wouldn't listen to the results of his own public questionnaire.

We said that we didn't wan't to sell our assets Campbell, not now, not ever, we didn't even want to lease them.....have you got it now!!!!!

I knew the Libs were in trouble after the first hour at the poll, there were just too many people on our side.

I wonder if Abbott will listen to the people of Australia and dump his austerity, people won't stand for it.

Austerity measures are so yesterday.

Who gives their kid a surname for a first name?

Celebrate those good times.