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London is surrounded by a "green belt", a large area which government policy has protected from housing development. The current high cost of housing in London has led some to advocate a selective relaxation of the policy so that housing supply can be increased (there have been reports by London First, the Adam Smith Institute, and Shelter, although their economic analysis is in some respects not very deep).

Question Can anyone give a reference to an academic paper or official report which provides, for a site anywhere in the world, a full cost-benefit analysis of the conversion of undeveloped land for housing development?

Within "undeveloped land" I include agricultural land, woodland, grassland or parkland, whether accessible to the public or not. By "full" I mean a cost-benefit analysis which includes at least a serious attempt using environmental valuation techniques to quantify the value of the range of ecosystem services that undeveloped land may provide and may be lost on development, eg drainage, water purification, support for biodiversity, carbon sequestration, and opportunity for recreation.

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