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Mobile phone apps for dating have also gained popularity.
Some of these apps primarily focus on enabling local, immediate social (and sexual) encounters.
"With disruptive technologies there's an upside but there's also a dark side," he told the ABC.
"We're having a housing affordability crisis in Australia, and Airbnb and these sort of shared economy technologies can have an adverse impact on our housing affordability, specifically with the rental market.""If we continue down a path where there is a light touch to regulation around short-term lettings, what we might see is some perverse outcomes and impacts on the long term rental market," Professor Pettit said.
Professor Pettit said Airbnb was only one factor in Australia's housing affordability crisis, and any regulations imposed on the site should be balanced. Having more people come into our cities is a good thing.