He fronted the media on Tuesday for the first time since conceding defeat on Saturday night.

Mr Coe said there was no need to rush into any decisions about who would lead the party.

"Four years is a long time," he said.

"It's so important that we make the right decision now and I am going to do everything I can to make sure that I support the Liberal Party."

Moderates Elizabeth Lee and Jeremy Hanson appear the most likely candidates to replace Mr Coe as leader, with even some conservatives believing the next leader should come from the party's left.

The deputy leader would likely come from the right of the party, with Giulia Jones among the names being discussed.

Counting will continue in the coming days, but the Liberals are set to lose between two and three seats.

Mr Coe has repeatedly faced criticism that he and the party were too conservative to win over Canberra voters.

But he rejected suggestions the party had veered too far to the right.

"What we've got to make sure is we make the right changes and don't throw the baby out with the bathwater," he said.

"The results across Canberra are actually quite complex, there are some areas we did really well, and other areas where we obviously did not do very well.

"We've got to be very careful that we don't make sweeping generalisations."

He would not concede the party lost a significant number of votes to The Greens.

"When you've got a heap of other minor parties at play, there are all sorts of intermediaries that people can vote from and to," he said.

"There are all sorts of complications, we've just got to make sure we're being very analytical about this.

"What's clear ... is that people's voting patterns are actually far more complex than what a lot of people would like to think."

Mr Coe's campaign was dominated by stunts borrowed from UK Prime Minister Boris Johnson, while he failed to answer basic questions about how the party would deliver its promises.

But he stood by the campaign tactics and said an analysis of it had to be "scientific".

"I known everyone's an expert, during the campaign and after the campaign," he said.

"We've now got results, what we need to do is methodically analyse what's happened and what we can do better.

"It was a very professional, very slick campaign, and by all accounts it was the most professional campaign the Canberra Liberals have ever run."

Mr Coe took responsibility for the loss, but said the Liberals' position was likely to improve as voting continued.

"Let's put this in perspective across Canberra, it's a 3 per cent swing at this stage, and I've got no doubt that that will narrow considerably over the coming days," he said.

"I and many other people in Canberra were devastated by those results.

"I think the results are going to get better in the days ahead as more votes are counted, but we are a party of government and that has not eventuated.

"I will do everything I can in the days, weeks and months ahead to make sure the Canberra Liberals are in the best position to be a strong opposition, a viable alternative government and the winners in 2024."

Mr Coe said his focus would turn to supporting newly elected and re-elected members of his party and congratulated Chief Minister Andrew Barr and ACT Greens leader Shane Rattenbury for their "relative success".

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