My in-expert eye seems to think that there is sufficient distance from the OLE, with the fence being up, to mitigate the distance without the need for a PES. The fencing *could* also be non-conductive (e.g. Glass-Reinforced Plastic/GRP), but I suspect a metal fence, with screen, bonded to traction earth, would be sufficient too.
Additionally, based on the curve of the track, the OLE is staggered as a "push-off" towards the cottages (in an easterly direction), meaning that, if the wires were to lose tension, they would return to the centre (in this case, westwards, and away from the cottages).