The group that represents Irish employers says it's "cautiously optimistic" that the economy is turning around.

IBEC today published its latest Quarterly Economic outlook which says, despite a weak start to the year, there are renewed signs of a gathering economic momentum.

It says the recent annual rise in national property rises suggest that the market has finally stabilised.

IBEC says the second half of the year will provide a crucial opportunity to restore normality to the property market which will have significant wider benefits across the board.

Fergal O Brien is chief economist with IBEC: