The fate of the northern Victorian seat of Indi may not be known for several days, with the result coming down to preferences.

Liberal frontbencher Sophie Mirabella is battling to hold onto her seat, which she held by a margin of 9 per cent in the face of a strong challenge from local independent Cathy McGowan.

On a two-party preferred basis, Ms Mirabella leads Ms McGowan 52 to 48 per cent.

Labor's candidate Robyn Walsh has 11 per cent of the primary vote.

"The Labor vote has completely collapsed in Indi," Mrs Mirabella told her supporters last night.

"It may well be the case that nowhere else in the country has the Labor vote been so comprehensively crushed than in Indi."

As Mrs Mirabella faced an uncertain future, she told her supporters that the night belonged to Tony Abbott.

"This is a wonderful victory for Tony Abbott and the Coalition," she said.

"The chaos of the last six years is finally over and a strong and stable government is finally returned."

While there was no clear result, Mrs Mirabella said she was glad to be well ahead on primary votes.

"The truth is Indi has never been the safe Liberal seat," she said.

"It was always the case that only a drop of a few percentage votes in the Liberal primary vote could put the seat in jeopardy.



She told the party faithful they had faced a co-ordinated campaign to unseat her.

"We've been under assault from an extremely well organised Labor, union, Green, GetUp! campaign," she said.

"We saw that this independent was anything but independent."

'We've made the future a swinging seat of Indi'

Ms McGowan told hundreds of her supporters in Wangaratta they had already achieved their goal.

"This electorate of Indi will never be the same again," she said.

"Never underestimate the power of a small group of people to create change."

She told her supporters more than 600 volunteers staffed the 89 polling booths saying it was an Australian record for an election.

"We used to be called a safe seat, but we've changed that.

"We've made the future a swinging seat of Indi."

Labor and Greens preferences will flow to Ms McGowan.