Exchange rate
Brexeternity
and housing realised.’’ market aren’t
How Brexit plays out would be the deciding factor for exchange rates too, Kiernan said.
‘‘Most forecasts of the New Zealand-uk cross rate were fairly stable and predict the pound will strengthen over the next two years, but given that forex rates are so hard to forecast there’s probably not enough in the numbers to sway the decision either way,’’ he said.
After the Brexit referendum, along with house prices, the pound suffered extreme pressure, Kerr said.
‘‘From the viewpoint of a British expat, looking back at their investment in Britain, they lost value instantly’’, and could again after Brexit.
The pound has been vulnerable
Another factor to consider was that even in the event of a last-minute breakthrough, Britain still faced ‘‘Brexeternity’’, a term coined by former British Labour minister, Denis Macshane.
‘‘[It] would represent years of political debate still ahead for the Brexit divorce settlement’’, creating continued uncertainty for some time, he said.
But Kerr isn’t convinced Brexit will happen at all and we may see May forced to postpone indefinitely, as Opposition leader Jeremy Corbyn has stated.
‘‘An extension in the madness is the possible next step,’’ he said.
Other analysts also think that the EU might finally come to the table.
The situation remains unpredictable, said Slabbert: ‘‘You can never discount politicians dropping the ball again.’’