Does proximity to the airport effect the house prices in West Richmond?

The noise caused by the airport can have an effect on the desirability of living in West Richmond however the Airport Authority, a few years back, upgraded homes directly under the flight path (not just in West Richmond) by installing thicker insulation, special ducted reverse cycle air conditioning systems and double glazed windows. These upgrades significantly reduce noise pollution however Location, Location, Location is always a major component in the capital value of a home and apart of the decision making process when buying a home.