The Freshwater Strategy survey underscores a prevailing sentiment that the federal government, led by Anthony Albanese, has not adequately tackled the economic challenges faced by citizens.

A significant 81 per cent of respondents express dissatisfaction with Labor's response to the issue.

Of the 1,000 participants, 74 per cent identified the cost of living as their primary concern, followed closely by housing at 41 per cent, according to The Daily Telegraph.

Grocery prices, energy, interest rates, and transport costs were also cited as key financial burdens by the surveyed voters.

Alarmingly, 68 per cent of respondents doubt that the Albanese government will take sufficient action in the next six months to alleviate the cost of living strain. Concurrently, more than half of Australians, 51 per cent, feel the country is headed in the wrong direction.

In a two-party preferred vote, Labor and the Liberal Party are currently tied at 50 per cent, signaling a slight decline for the government and a five per cent rise for the Coalition.

Anthony Albanese maintains a lead as the preferred Prime Minister, with 47 per cent support compared to Opposition leader Peter Dutton's 38 per cent.