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Is Airbnb affecting Australian property prices?

Concerns have been raised that the rise of Airbnb in Australia could be affecting the country's property prices - something the hospitality service's co-founder denies.

Joe Gebbia, co-founder of Airbnb, has been visiting Australia this week to try to put minds at rest that the shared economy service is not having an adverse effect on property prices down under.

Some are concerned that homes joining on to those that are let out via the Airbnb model could be worth less in the future due to prospective buyers being worried about noise from tourists or their neighbouring houses turning into rowdy hostel-like abodes.

As a result, questions have been raised about the rights of homeowners and tenants in properties that neighbour those used by Airbnb.

But Mr Gebbia has been trying to reassure property investors and tenants alike, by emphasising that most Airbnb properties are only let out through the service for short-term periods and usually while the main occupier of the property is present, which means noise and anti-social behaviour should not need to be a concern.

Speaking to ABC News, Mr Gebbia explained: "There is a common misconception globally that the platform's about property groups and big property groups renting out entire apartments full time."

Sam McDonagh, country manager for Australia and New Zealand at Airbnb, added: "In Australia, more than two-thirds of the listings that we have on the platform are sharing the home that they live in."

What's more, the Airbnb explained to Australian journalists that it had conducted research showing rents were not being pushed up out of line with current trends in areas with a high prevalence of properties registered with the hospitality service.

Statistics show that there are currently 40,000 Airbnb listings in New South Wales alone, with 25,000 of these located in Sydney.

However, there are no laws in place as yet determining how these properties should be governed - something that may have to be the case in the future as Airbnb becomes even more popular among tourists and business travellers alike.

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