Political pundits have already given Labor a majority win. However, they need 76 seats for a majority. ATM the state if play is Labor: 71 seats, LNP 51, Greens 3, Others 12 with 14 seats undecided. The LNP had a big swing away from them this election but the votes didn't go to Labor - except in WA which was enough for Labor to claim victory.
In the Senate, the current state of play is LNP 30 seats, Labor 25 seats, Greens 12 seats, Lambie 2 seats and ON 1 seat with 6 seats undecided. Labor needs to control 40 Senate seats to pass legislation which seems unlikely even with Greens support.
So far, Albanese has ruled out forming a coalition so it remains to be seen how effective he will be.
https://www.abc.net.au/news/elections/federal/2022/results?filter=all&sort=az&state=all