The houses issue is being blown out of all proportion in this thread. I was at Farnborough this last weekend and guess what, a large development of executive flats and houses is being built adjacent to the airfield entrance. Is anyone foretelling of mass uprisings of new residents at FAB insisting the airfield be closed or operations restricted? I don't think so.
People buying a new build house near an airport do so in the full knowledge they are buying a house next to an airport. Any argument they have in future against the operation of that airport is therefore weakened. If it realises a land value for Peel that can be reinvested to improve the airport what's the problem...