If the Flight Path Were Over a Grim 1960s Housing Estate Or a New Town, Then That Would Be All Right, of Course.

From The Evening Standard:
Boris Johnson’s mother-in-law has joined furious residents protesting against the “unbearable” effects of plans for a new Gatwick flight path over their picturesque village.
Three weeks ago the tranquillity of the quintessentially English village of Warnham, West Sussex, was shattered without warning when aircraft taking off from Gatwick began thundering overhead – part of a six-month trial by Gatwick and air traffic control service NATS.
The £1,000 a year bung should soften the blow a bit, eh?
LVT will sort all this out. If the noise from the new flight path reduces the enjoyment value of your house, then its rental value will fall £ for £, and hence your LVT bill come down £ for £.
The really strange thing is that house prices under the Heathrow flight paths are higher than elsewhere, all things being equal. So it is possible that in a bizarre sort of way, the rental value and selling price of the houses in Warnham will go up.