THE latest Nielsen poll shows Tony Abbott's approval rating is on the wane, but the coalition would win an election on a two-party basis.

According to the poll, in today's Fairfax newspapers, the opposition would win 53 per cent of the vote (up one point since last month) and Labor would receive 47 per cent (down one point).

The poll shows Labor's national primary vote is steady on 34 per cent, while the coalition's vote has risen by two points to 45 per cent, with the Greens up one point on 12 per cent.

Mr Abbott's approval eased one point to 36 per cent, his disapproval is steady at 60 per cent, but his net approval is down a point to minus 24, a new personal low.

Meanwhile, voter approval for Prime Minister Julia Gillard remains steady on 47 per cent and, with her disapproval steady on 48 per cent, she has an unchanged net approval of minus one.

Ms Gillard maintains a nine-point lead over Mr Abbott in the preferred prime minister stakes at 51 per cent (up one point) to Mr Abbott's 42 per cent (up two points) in the national poll of 1400 taken from Thursday to Saturday.