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.

Mark Bouris with Prime Minister Scott Morrison at a housing roundtable meeting earlier this year. Credit:Alex Ellinghausen

"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."