National now relies on at least one other party to pass legislation and Labour is likely to have three contenders for its leadership.

Those are the repercussions of the final election result announced this afternoon following the counting of special votes.

National made history on election night as the first party to have an outright majority under MMP. But now the special votes have been counted, it's lost that claim to fame and now has 60 MPs, down one from election night.

The Greens gain an extra MP, taking them to 14 seats. That means Steffan Browning will return to Parliament.

But National's last-ranked MP, former West Coast mayor Maureen Pugh, loses her seat in the House. That's despite thinking she was in and spending the past two weeks taking part in induction activities for new politicians.

"The number of seats in Parliament will be 121," Chief Electoral Officer Rob Peden announced.

National continues to have the majority of seats, with 60, but can't govern alone. But combined with Act which has one seat, United Future with one and the Maori Party with two, it has wriggle room and an easy majority of 64. Labour with 32 seats and New Zealand First with 11 keep the same seats they had on election night.

Prime Minister John Key says it's disappointing to lose Maureen Pugh. But he points out there's never been a majority government delivered under MMP.

ONE News political reporter Katie Branford says National losing its one-seat majority is "not really a big deal". That's because Mr Key already has the support of United Future and Act and will be signing a deal with the Maori Party tomorrow.

Little considers leadership bid

The result could also mean another contender in the battle to lead the Labour Party as it looks to rejuvenate - Labour list MP Andrew Little.

Mr Little was at risk of losing his list spot but a slight rise in Labour's party vote means he's back in Parliament.

"I've been waiting to see whether I'm been confirmed in Parliament. It's something that I may well now consider, but I will also be considering how realistic my prospects are," he said today.

The former unionist thinks if he doesn't put his name up to challenge David Cunliffe and Grant Robertson for the leadership someone else will.

Katie Bradford says if Mr Little does throw his hat in the ring he will be a "very real contender" for the job.