Thousands of robocalls by Yellow Brick Road founder Mark Bouris urging voters to reject Labor at Saturday's election have fallen foul of election laws amid accusations he told "lies" about Bill Shorten's negative gearing proposals.
Mr Bouris, a strong critic of Labor's plans to restrict negative gearing to new properties, featured in a robocall to voters on Wednesday evening in which he warned house prices would fall under the policy.
"What we don't need after this Saturday's election is a government that brings further pressure on to property prices in Australia by eliminating negative gearing and changing the capital gains tax regime for property," he said.
"If Labor wins and they bring in negative gearing changes and the capital gains tax changes, house prices will fall, they'll continue to fall at a very rapid rate, and what's worse our kids are going to have to pay more rent because investors are going to have to put the rent up to recoup the losses they would normally get as a tax deduction."
He finished the call by saying Labor's policies "could affect the future of us and our children" before adding he hoped to talk to the caller "one day".
While Mr Bouris introduced himself at the start of the call, he failed a key part of new authorisation requirements under federal law regarding robocalls.
The Australian Electoral Commission confirmed the call needed to state the city or town from where the person was making the call.
A spokesman for the commission confirmed it would investigate the calls and their lack of authorisation.
The Coalition is ramping up its attack on Labor's housing policies, mirroring Mr Bouris' claim that they will both drive up rents and reduce house prices.
Sydney dwelling values have fallen 14.5 per cent since their peak in mid-2017 while they have edged down by almost 11 per cent over the same period. CoreLogic's daily measure of dwelling values suggests a further drop through May.
Shadow treasurer Chris Bowen said Mr Bouris had a "track record" of supporting the Liberal Party, adding that he could not be considered an independent commentator on Labor's housing policies.
"Mark Bouris is the human face of the Liberal Party-vested interests in the property sector, telling whatever lies they can to deny first home buyers their legitimate aspiration of home ownership."
"Labor's reforms are good for first home buyers; renters and housing supply. We will boost affordable housing and build to rent which will actually increase choice for renters while retaining negative gearing for new housing which is great for housing supply."
- SMH/The Age