Labour leader Andrew Little has dismissed the latest ONE News Colmar Brunton poll putting the party at its lowest level in around two years as "bogus".
Labour is down three per cent since June to 26 per cent, and the party hasn't been this low since the 2014 election when it recorded 25 per cent.
For the party, which has been scrapping hard on issues like housing and immigration, the slide is a kick in the guts.
"I don't accept the poll. I have seen other polls recently taken at roughly the same time that tell a completely different story. I think the poll is bogus. I don't accept it," Mr Little said.
While John Key's Government is accused of dropping the ball on issues like housing, two years into its third term, National shows no sign of fatigue.
National is steady this month at 48 per cent, the same result it achieved in the last election.
"We are about a year away from an election. This is a result pretty akin to what we got on election night 2014," Mr Key said.
Labour's coalition partner, the Greens, are in better shape than Labour, up one point to 13 per cent.
But the big mover continues to be New Zealand first, up another two points to 11.
The Maori Party also made gains, doubling its support this month to two per cent.
Translating those numbers into seats in Parliament, National with 58 seats would be able to form a government with the help of its current support partners, the Maori Party, Act and United Future.
The centre left block of Labour and the Greens could muster 46 seats.
But even with New Zealand first's 13 seats, they would fall short of a majority in a Parliament of 121 seats.