When I was a child, we lived 2 doors from a cul-de-sac where we used to ride our bikes. At the bottom of the cul-de-sac was what we called The Rec, which was a great park which included a cricket pitch and pavilion. All the local kids used to play in The Rec, we were all in and out of each other's houses, and when it was time to come home for supper my mother would stand on the back doorstep and call a loud Oooh-Oooh sound that could be heard for miles. It was the signal for ALL the kids to come home.
We were never supervised and loved our freedom, and took the scrapes and knocks in our stride. My older brother broke his arm jumping out of a tree, and a few years later broke the other one jumping off the swing I our garden to impress a girl - so just being on home turf doesn't make you any safer.
By the time I had DD, although we still lived in a pretty rural area, kids had stopped playing in the street so I had to arrange play dates for her, which I never felt was as much fun as my own childhood.
Luckily, where she and DGS live is a quiet cul-de-sac and the (slightly older) kids next door but one play with DGS a lot - he's only 4, but confident enough to go to their house and knock on the door to see if they're in, or they come looking for him, or as we come home from being out he'll see them playing and just go and join in, so much more resonant of my own childhood.
I take some people's point about how irritating it can be to have a football thumping against your wall, or kids ploughing through your garden, but again isn't that about community? You have a word with the kids, explain why they shouldn't do something, and in a normal world their parent(s) would back you up (actually, in a normal world, the parent(s) would have already taught them...) and the kids would have enough respect to abide by the rules.
Sadly, too often these days the kids haven't been taught about social cohesion through respect, and there are too many parents who get cross with you when you try to instil a little social responsibility into their offspring 