SIR, A great new investment opportunity has just opened up. A Government inquiry has now indicated that the expansion of Heathrow airport might be acceptable after all.

If this happens, there will be a bonanza for owners of houses in the Thames Valley and nearby areas, whether owner-occupied or rented. Houses convenient for Heathrow will be desirable for the increased number of people and businesses which use the airport heavily, and the number of people who work there and need to live reasonably close will increase still further. This will have a knock-on effect on areas slightly further out, such as Oxfordshire.

Of course, the Government is trying to get more houses built in the area, but this is a long-term solution at best, for a housing market where prices are already very high. In any case, it is not clear that this Government initiative will be sustained in the face of consistent local opposition to almost all house-building schemes.

The answer is clear: get as much house property as you can in this area before prices rise further. There still some uncertainties, which implies a degree of risk, but this also means that current house prices, high though they are, are actually at a slight discount.

There’s a good chance of owners being able to sit back and watch values rise in the face of increased demand and limited supply. It’s got to be worth a punt — it would certainly beat working for a living.

Peter Smith, Bostock Road, Abingdon