In a stunning turn of events, the latest Australian Electoral Commission figures show Ms McGowan with a 1754-vote lead over incumbent Sophie Mirabella on a two-candidate preferred basis.

With 92 of 103 polling booths counted, Ms McGowan has 24,840 votes with Mrs Mirabella sitting on 23,086.

The lead has fluctuated wildly over the course of this afternoon, with Ms McGowan claiming a narrow 35-vote lead before Mrs Mirabella reclaimed the advantage by 281 before the latest update.