A couple of the talking heads over there are saying this is Labor's worst loss in 100 years. One even said they don't see how Labor can rebuild.
OTOH I saw a different talking head say that Boris has a sizable majority, but that margin isn't as big as Thatcher or Blair had. And one of them was saying this election isn't any indication of a surge in conservatism, it was just a referendum on Brexit. After Brexit is done everyone's politics will go back to business as usual. I think that makes more sense than the idea that people have actually changed their economic and political worldviews.