Big Names Consider Contesting Turnbull's Sydney Seat

The relatives of two deposed prime ministers considering a tilt at the harbour-side seat.

Tony Abbott's sister and City of Sydney councillor Christine Forster is open to throwing her hat in the ring for Liberal pre-selection, while Malcolm Turnbull's son-in-law is yet to rule it out.

"I have colleagues encouraging to me to stand and I am considering doing that if and when the seat is vacated," Forster told AAP on Friday, hours after Turnbull was ousted from the top job.

Turnbull is yet to confirm exactly when he will vacate the seat of Wentworth, but says he'll leave parliament "not before too long".

His son-in-law James Brown, the RSL president, is also being touted as a possible Liberal successor.

Tony Abbott with his sister Christine Forster and her wife Virginia Edwards. Image: Getty Images.

He addressed the rumours on Thursday, but stopped short of ruling out running for preselection.

"There has been some speculation that I will enter federal politics. Let me be clear: I am fully engaged in the task of returning this league to be the pre-eminent organisation caring for veterans and their families," Brown said in a statement.

Businessman and former Australian ambassador to Israel Dave Sharma is said to be the frontrunner to replace Turnbull as the Liberal candidate.

NSW MP Alex Greenwich says he too is being urged to run.

Turnbull farewells the nation with his family. Image: Getty Images.

"A good community-based independent could win," he told AAP in a statement. "We do well at state and local elections."

Tamarama Surf Lifesaving Club president and local businessman Tim Murray will run as Labor's candidate.

Meanwhile Greens candidate and current Waverley Deputy Mayor Dominic Wy Kanak says his party could shake things up at the poll.

Cr Wy Kanak said the the Greens were already well represented at a local government level and he expected a swing towards them at a federal level.

"It has been a gradual shift and it's positive for the Greens and we're hoping to convert that into an election result at the federal level. I think we've got a strong chance," he told AAP.