Kiwi Property Group has posted a 43 per cent fall in annual profit as the value of its property portfolio rose at a slower pace than a year earlier, and it expects more moderation in the broader real estate market.

Net profit fell to $143 million in the 12 months ended March 31, from $250.8m a year earlier, the Auckland-based company said on Monday. The difference was largely due to a $41m increase in the fair value of Kiwi Property’s portfolio in the latest financial year, compared to a $175.9m…