I had several listings in central Sydney. The idea was to ‘test’ Airbnb at a few different market levels ranging through cheap, mid-market and high end. My experience has been that the only successful listings are the cheap ones. The reason for this is because Airbnb guests are inherent cheapskates.
Listings at the cheapest end of the market (a share room, backpacker style dorm) show a constant demand and high occupancy and as long as the photos and description are accurate and specific, the guests do not have any grounds for high expectations and, equally, any sustainable grounds for complaint. Alternatively, the opposite is true of mid-market and high end listings.
To attract bookings you have to be highly competitive and provide a full range of amenities, all of which are grounds for some kind of complaint by an asshole cheapskate trying for a free nights accommodation. My advice is keep it cheap and keep it simple and decline any guest who asks any question to which the answer is detailed in the listing preview. The enemy of profitability is time – don’t waste it. Stack ’em high, sell ’em cheap and don’t take any shit from guests or management.