Two-party preferred
The localised regression has Labor on 49 per cent, and the Coalition on 51 per cent of the two party preferred vote (2pp/TPP). There is not much change since the start of 2025.
The Bayesian aggregation of the pollster 2pp estimates, using a Gaussian random walk, has Labor on 48.6 per cent, and the Coalition on 51.4 per cent. Again, there is little change since the start of this calendar year. It should be noted that Newspoll has adjusted its 2pp methodology, which I have reflected as "Newspoll 2".
In addition to using the pollster's 2pp estimate, I have started looking at 2pp estimates based on preference flows from primary votes at the 2022 election. Taking this approach, we produce estimates that are a little more favourable to Labor, with 49.3 per cent of the 2pp vote.
Primary votes
Turning to the Primary votes, the localised regression has the Coalition on 39.0 per cent, Labor on 30.7 per cent of the first preference primary vote. The Greens have 12.4 per cent and others (including independents) have 19.0 per cent.
I have been experimenting with a monthly Dirichlet Bayesian model, which does not include house effects in the model (just like the localised regressions above). In that model the Coalition has 39.0 per cent, Labor has 30 per cent, the Greens have 12.4 per cent and other parties have 18.6 per cent.
Using my standard Bayesian model based on a Gaussian random walk for primary votes, the median estimate of voting intention was as follows. The Coalition has 38.9 per cent of the first preferences. Labor has 30.0 per cent. The Greens have 12.5 per cent and others have 18.6 per cent.
The betting market
Since early November 2024, the betting market has the Coalition as the favourite to form government after the next election. The Coalition is currently on a 64 per cent win probability. Labor is on 36 per cent.