Anthony Albanese has hailed a win for “homegrown values” as he took a veiled swipe at Trump after his party won the Australian Federal election.

In his victory speech, Anthony Albanese said serving as Prime Minister is "greatest honour of his life".

He said: “It is with a deep sense of humility and a profound sense of responsibility that the first thing that I do tonight is to say thank you to the people of Australia."

“Today, the Australian people have voted for Australian values.”

Albanese claimed a majority goverment

“For fairness, aspiration and opportunity for all. For the strength to show courage in adversity and kindness to those in need. And Australians have voted for a future that holds true to these values, a future built on everything that brings us together as Australians and everything that sets our nation apart from the world.

He declared: "Australians have chosen to face global challenges the Australian way; looking after each other while building for the future."

Albanese claimed a majority goverment, saying: "And to serve these values, meet these challenges, these these opportunities, and build that better and stronger future — Australians have chosen a majority Labor government."

The PM thanked his opponent Peter Dutton: "I thank Peter for his generous words at the end of what has been a very hard fought campaign," he said.

He wished Dutton and his family “all the best for the future”.

After being met with jeers from the crowd at the mention of Dutton, the PM added:

“No. What we do in Australia is we treat people with respect.”

Albanese continued by saying the world has "thrown a lot at our country over the past three years".

"That is why it means so much that in these uncertain times the people of Australia have placed their trust in Labor once again."

Labor will not take that trust "for granted," he added.

In a swipe at Trump and the US-style political campaigning adopted by Dutton, Albanese said: “We do not need to beg, or borrow or copy from anywhere else. We do not seek our inspiration overseas. We find it right here, in our values and in our people.”

Albanese said he will be "back at work tomorrow," and that his team will "take on this task, with new hope, new confidence and new determination.

He made a promise to support reconciliation with the First Nations people, and promised cheaper child care

"Because together we are turning the corner and together we are making our way forward, with no one held back and no one left behind."

He made a promise to support reconciliation with the First Nations people, and promised cheaper child care and support for those on the national disability insurance scheme.

He said: "Our government will dedicate the next three years to making a positive difference to your lives and to your future."

The PM ended his speech by declaring with "optimism and determination" and "faith in each other, we return to the work of building Australia's future."