The resounding win makes Key the first New Zealand leader able to govern in his own right since proportional voting was introduced in 1996 and means his centre-right National Party has increased its vote in all three elections he has contested.
"I'm ecstatic, it's a great night," the 53-year-old former currency trader said after a result that confounded opinion poll predictions of a tight race.
"It was a tough campaign but I think that people could see the country was on the right direction and they rewarded us. I'm just very grateful," he added.
Labour leader David Cunliffe, facing questions over his future, said it was time to rebuild the centre-left party, not lay blame.
"I'm certainly happy to take my share of blame for this result, but I'm getting consistent feedback from people that they want me to muscle up, to carry on and drive through the change that we need," he said.
The Internet-Mana party, bankrolled by flamboyant tech mogul Kim Dotcom in a bid to oust Key, did not win a single seat after attracting only 1.26 percent of the vote, with the German national blaming himself for the failure.
Support for the Greens slipped 1.1 percent to 10.0 percent, well short of the 15 percent it was targeting while the populist New Zealand First Party (NZF) increased its number of seats from 7 to 11.
NZF had been tipped as a potential kingmaker in a hung parliament but such was Key's dominance that he does not need to negotiate to retain power.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
