In his first press conference as opposition leader, Angus Taylor laid out his plan for the Liberal Party's fresh direction under his and deputy opposition leader Jane Hume's reins.
He promised lower taxes, a focus on housing affordability and a tough stance on immigration.
"We must restore Australia to a country where life is affordable, where our kids can buy a home, where you can raise a family, and ... where we unapologetically, unapologetically defend Australian values," Mr Taylor said on Friday after easily defeating Ms Ley in a leadership ballot.
Political expert Zareh Ghazarian said Mr Taylor - who has held the seat of Hume for 13 years - had taken on "the hardest job in politics" with many issues needing immediate attention.
"Number one is the party itself," Dr Ghazarian told AAP.
"A big challenge is having a united party room that is accommodating of different views.
"There's also the challenge of reconciling and having a more stable relationship with the National Party after it dissolved twice this year."
Ms Ley announced her resignation from politics soon after being deposed, triggering an eventual by-election for the NSW seat of Farrer.
Dr Ghazarian said the by-election posed a "potentially dangerous opening" for the Liberals.
"The test of leadership is often at the ballot box and this will be (Mr Taylor's) first test," he said.
"The Liberal Party will have to combat the potential of One Nation and I think that's going to be very difficult."
Ms Ley held the seat for 25 years, taking it from the National Party in 2001 after the retirement of former Nationals leader Tim Fischer.
Opinion polls reveal a surge in support for One Nation, with the latest Newspoll showing the minor party overtook the coalition with 29 per cent primary vote support.
One Nation leader Pauline Hanson issued a call out on social media for "community-minded locals" to throw their hat in the ring for the party.
Michelle Milthorpe, a Climate 200-backed independent candidate for the seat in the 2025 election, announced she would recontest Farrer.
Ms Ley's margin was reduced to 10.9 per cent in 2019, and 6.2 per cent in 2025 in contests against independents.
"The coalition has been consumed by its own internal contests at a time when people are crying out for leadership," Mrs Milthorpe said.
State independent MP Helen Dalton, a former Shooters and Fishers Party member, said she would consider running for the seat.
As the Liberal Party looks to develop its policies, Dr Ghazarian said Mr Taylor should adopt former prime minister John Howard's approach of accommodating the conservatives and moderates within the party.
"He must have a pragmatic element, rather than being an ideological party," he said.
"That would mitigate divisions emerging and the sense that there are winners and losers within the party."
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