Economists warn about Irish house price inflation as the ECB looks set to cut interest rates 

Prices could rise 'more aggressively' than the 3.5% to 4% analysts had predicted for this year

Irish economists warn the prospects of rate cuts have already helped to push annual house price inflation higher, and  house prices could end the year at higher levels than once anticipated.

European Central Bank interest rate cuts and the prospects for more incentives for first-time buyers in an election year increase the risk that Irish house price inflation will take off, economists have warned. 

The ECB is widely expected to announce a quarter point rate reduction on Thursday lunchtime and may set the stage for more interest rates later this year.