Senior members of the federal coalition have taken vastly different lessons from the NSW election as the vanquished Liberal and National parties lick their wounds.

The coalition was swept from power after more than a decade in office, with Labor’s Chris Minns to become premier.

Liberal frontbencher Paul Fletcher, who hails from NSW, denied his party failed to learn from its federal election landslide loss.

“After three terms and 12 years, inevitably, it becomes harder to win a fourth term,” he said of the state result.

“It’s not surprising that people look for a change, that’s been a pattern in Australian politics for decades.”

Nationals leader David Littleproud agreed time was against the state coalition but said the parties would have to go back and review the sale of public assets, which he believed played into the loss.

“The NSW people said that they wanted a new start and what we have to do by it is go back and listen and learn,” he said. 

“You’ve got to appreciate the electorate – when they own an asset, they very rarely want to give it up.”

Prime Minister Anthony Albanese said the coalition was not learning from its losses, laying into the federal opposition’s lack of support for action on climate change.

The Liberals suffered a swing of more than four per cent across the state and some conservatives have called on the party to move further to the right following the loss.

But Mr Fletcher said such a move would not be needed and instead major parties needed to be “responsive to the concerns of mainstream Australians”.

Former prime minister Malcolm Turnbull said it was “not inconceivable” the Liberal Party could split to accommodate conservatives and moderates, turning the coalition into a group of three parties.

Nationals MP Barnaby Joyce, who lives in northern NSW, said the coalition should not split following the election loss but said that was a decision for his state counterparts.

Saturday’s election result put Labor governments into power in every mainland state and territory, with Tasmania the only remaining Liberal government.

Cabinet minister Don Farrell said the commonwealth would work with state counterparts to reduce the cost of living.

By Andrew Brown and Dominic Giannini in Canberra