Peace will oversee the strategic direction of the association, chairing a management committee comprising men and women leaders from across real estate. Real Estate Balance's mandate is to secure a future in which women represent half the industry’s senior positions.

Peace is replacing Vivienne King, who is standing down at the end of March after four years in the post. King will continue as a member of Real Estate Balance’s management committee. At the same time, Sue Brown replaces Kaela Fenn-Smith as managing director.

King said: 'I’m delighted to announce Liz Peace as my successor. As a founder member, Liz was instrumental in establishing the organisation and she has been a driving force behind our campaign for a better-balanced real estate sector. With Liz as chair and Sue as MD, we’re in a fantastic position to support real change in our industry.'

Peace added: 'Real Estate Balance is an incredible organisation with an important mission and I’m proud to be its new chair. It has been hugely rewarding to see Real Estate Balance mature under Vivienne’s tenure and I want to take this opportunity on behalf of Real Estate Balance and the wider industry, to thank Vivienne for her commitment to the role during this time.'

Peace has more than 35 years’ experience in government and the property sector. For 13 years until 2015 she was chief executive of the British Property Federation and now has a portfolio career including non-executive director roles with both public and private companies, the chairmanship of a number of public sector bodies and trustee/chairmanships at a range of charities and not for profit organisations.