The ANO has an excellent write-up about aircraft noise - and I feel the general line he is taking, is that too many new housing developments are being pushed by unscrupulous developers, in areas where aircraft noise is highly discernable and at a conversation-ruining level - and that these developers quite possibly are not making it clear to buyers, what the aircraft noise levels are likely to be.
He also points out that Council information about aircraft noise is also likely to be generalised and not informative enough for many buyers.
He mentions the pertinent point, that many people are capable of coping with high levels of aircraft noise, whilst others have a very low level of discomfort.
http://www.ano.gov.au/reportsstats/r...raft_noise.pdf