Former independent MP Geoff Shaw says he has no regrets about his time in Parliament after being defeated in the Victorian seat of Frankston.

After four tumultuous years in office, in which he left the parliamentary Liberal Party and was found to have misused his taxpayer-funded fuel card, Frankston voters delivered their verdict on the unconventional MP.

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The ABC’s election analyst Antony Green said Labor had won the electorate.

“Paul Edbrooke, who’s got 51.3 [per cent of the vote] at the end of the count, so he will win that seat,” Green said.

A reflective Mr Shaw said he campaigned hard but life would go on.

“I’ve got a family so I’ll be concentrating on that lots of opportunities in Australia to do whatever. We live in Australia, the lucky country,” he said.

“I’ve experienced things I would not have before, met wonderful people that I wouldn’t have met before. I don’t regret my time in Parliament.”

The controversial MP, who was never afraid to speak his mind, remained true to form as he fired a parting shot at Victoria’s political leaders.

“Victorian is starved of real leaders and you have moral cowards [on one side] and morally bankrupt on the other,” Mr Shaw said.

“Good luck Victoria with the leadership you have chosen because we are starved of it here.”

Daniel Andrews has led Labor to election victory, with the party predicted to have a comfortable majority in the Lower House.

Mr Shaw’s move to the crossbench in 2013 was seen as a key factor in the resignation of then premier Ted Baillieu.

Mr Shaw continued to cause havoc for his former party, including throwing Parliament into turmoil after announcing he would support a no-confidence motion in the Government.

This triggered a series of events that ultimately led to his suspension from Parliament.

Liberal candidate for Frankston Sean Armistead said the electorate had sent a message that it wanted to move on from Mr Shaw.

“They were, I guess, looking forward to the next chapter in Frankston’s development and looking forward to us reaching the potential we have down here,” he said.

Mr Shaw would not rule out returning to politics.

“Local politics would bore me silly and [I’ve been an] accountant for more than 20 years in business,” he said.

“I’ve probably had enough. We will see what happens.”