With the very rapid rise of One Nation in recent national primary voting intention polling we are starting to see some pollsters offer a national alternative Labor-vs-One-Nation two-party figure. DemosAU did this in its national Jan 5-6 poll where it found One Nation tied with Labor 50-50 while Labor led the Coalition 52-48, this off primaries of Labor 29 Coalition 23 One Nation 23 (more on that later) Greens 12 others 13. A newish outfit curiously polling on the same dates, Fox&Hedgehog (founded post the 2025 election by a former Peter Dutton staffer) reported 56-44 to Labor vs One Nation off fairly similar primaries of Labor 29 Coalition 25 One Nation 21 Greens 14 others 11, compared to 53-47 for Labor vs Coalition. So DemosAU has One Nation two points more competitive than Labor on a head to head with Coalition basis while Fox&Hedgehog has them three points worse. (I'll add that by my last election preferences 48% 2PP for Coalition is pretty generous on the published DemosAU breakdowns, I get 47.4 as the average for their primaries.)
DemosAU attempted to use last-election preferences by using the flow in the seat of Hunter 2025 (the only federal case ever of a Labor vs One Nation finish) to model Coalition to One Nation flows, by assuming the Greens to One Nation vs Labor flow would be the same as the Greens to Coalition vs Labor flow, and also by assigning flows from Others 50-50 between Labor vs One Nation "As the composition of Others is not known". (That last bit did strike me as a little curious unless they were also doing the same thing for Labor vs Coalition, given that the 2PP flow from others in 2025 was about 54.7% to Labor). Fox&Hedgehog simply used respondent preferences.