Primary support for One Nation rose four percentage points to 31 percent from a month earlier, according to a closely watched poll by Redbridge Group and Accent Research.

The ruling centre-left Labor party polled at 28 percent, down three points.

Support for the conservative coalition opposition fell two points to 20 percent.

The polling comes after the government's May 12 budget introduced the biggest changes to property taxes in decades, to tackle intergenerational inequity.

The results suggest the proposed measures failed to win over voters, and were especially unpopular with the Gen X and Baby Boomer cohorts.

But it also appeared unpopular among younger Australians it aims to benefit.

Just 26 percent of Millennials and 13 percent of Gen-Z voters believed the budget would be good for them, it showed. 

Labor was still ahead of One Nation 51 percent to 49 percent on a two-party-preferred basis, when respondents distribute preferences under Australia's ranked-choice voting system.

The poll of 1,005 voters, with an error margin of 3.4 percent, was held between May 25 and May 28.

Since its 1997 launch, One Nation, led by Pauline Hanson, has had only a peripheral presence in Australia's parliament.

But its recent resurgence came after it tapped into voter anxieties over high living costs, economic uncertainty and anti-immigration sentiment.

Last month, One Nation's David Farley took 39 percent of the vote in the rural New South Wales seat of Farrer, snatching the seat at a time of rising prices, unaffordable housing and concern over issues like immigration.

His nearest rival, an independent candidate, secured 28 percent of the vote while the conservative Liberal Party's contender got 12 percent, and the rural-based National Party 10 percent, official results showed.

Australian Prime Minister Anthony Albanese's centre-left Labor Party did not contest the by-election, which it considered unwinnable.

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