I believe it is the 'State' who 'owns' such airspace, from surface up to 55 or 60,000ft, depending upon the upper limit of the FIR. It is classed as 'Sovereign Airspace', but a lawyer would be better explaining such legal niceties.
Should a structure or object overhang land over which you have legal title then that would indeed infringe your property, but needless to say that object would have to be on the surface/attached to an object on adjacent land.
Aircraft, not being attached to the surface, would not constitute and infringement of your property despite passing directly above it. However, should an aircraft fly within 500' of a vessel, vehicle, person or structure on your property then you can complain via the CAA.
In short, anyone can fly through the airspace directly above your property, so long as it is not within the magic 500'. (The 500' rule does not apply only to flying 'above' a vessel, vehicle, structure or person, it applies to within 500' from any angle).
http://www.caa.co.uk/docs/224/Rule%2...il%202005a.pdf