Christopher Luxon has said the election is too close to call as National's party-vote lead over Labour shrank to 292, with the governing parties still holding a narrow projected majority.

RNZ reported at 12.24am that the National leader had told supporters at Auckland's Viaduct Events Centre: “I have to tell you right now it is too close to call.” He remained optimistic the coalition could return to power, but said final results would determine the shape of Parliament and negotiations would require compromise.

Official Electoral Commission figures at 12.30am projected 42 seats for National, 13 for ACT and 12 for New Zealand First. Their combined 67 seats were one above the 66 needed for a majority in the projected 130-member House.

The preliminary count did not settle the formation of the next government. Special votes remain to be counted and can change electorate margins and the seat allocation.

Labour was projected to take 35 seats, the Greens 16, Opportunity seven and Te Pāti Māori five. Those four parties together had 63 seats, without establishing a governing agreement.

National had 701,599 party votes, or 29.28 percent, against Labour's 701,307, or 29.26 percent — a gap of 292. Nationwide, 98 percent of voting-place results had been counted, covering 2,396,007 party votes.

Labour's Michael Wood led National's Carlos Cheung by 249 in Mt Roskill with 93 percent of voting-place results returned, up from 155 at 11.15pm.

National's projected seats were all electorates, leaving it with no list seats in the current allocation. The close electorate contests could still change the size and balance of Parliament.

National's Mike Butterick led Labour's Kieran McAnulty by 73 in Wairarapa with 98.8 percent of voting-place results returned. The lead had repeatedly changed during the evening.

National's Ryan Hamilton led Labour's Georgie Dansey by 456 in Hamilton East after all 72 voting-place results had been returned. Hamilton had 14,139 votes to Dansey's 13,683; special votes remain to be counted. Labour's Ginny Andersen led National's Chris Bishop by 889 in Hutt South after all 80 voting-place results had been returned. Andersen had 17,957 votes to Bishop's 17,068.

National's Blair Cameron remained 1,210 ahead of Labour's Rachel Boyack in Nelson after all 47 voting-place results had been returned. That completed preliminary count excludes special votes and is not an official declaration.

Labour's Tracey McLellan led National's Vanessa Weenink by 2,261 in Banks Peninsula after all 119 voting-place results had been returned. McLellan had 19,216 votes to Weenink's 16,955. National's Katie Nimon led Labour's Alex Hedley by 6,847 in Napier after all voting-place results had been returned, while National's Catherine Wedd led Labour's Dan Scott by 8,933 in Tukituki after all voting-place results had been returned.

The Greens had 13.30 percent of the party vote, ACT 10.96 percent, New Zealand First 9.78 percent and Opportunity 5.97 percent. Te Pāti Māori had 0.56 percent and led in five electorates.

RNZ reported at 11.14pm that Labour leader Chris Hipkins had told supporters at the Upper Hutt Cossie Club: “Every vote matters and every vote must now be counted.” He said the next Parliament would require compromise and common ground, and the shape of the next government remained unclear.

Special votes are counted after election night and can change electorate margins and the seat allocation. Official results are expected on 27 November.