The Duke and Duchess of Cambridge present their newborn daughter to the waiting media outside St Mary's Hospital. Photo / AP
As the world awaits Wills and Kate’s choice of a name, the baby awaits visits from royal elders.
The new Princess of Cambridge will be worth billions to the British economy before she turns 10, an expert has estimated less than two days after the baby dubbed "Sleeping Cutie" was born.
The new royal was last night with her parents, William and Kate, at Kensington Palace - where she'd spent her first night. The Queen and Prince Charles were among relatives expected to visit.
Later this week, the family will leave "Apartment 1A" for Anmer Hall, their secluded Norfolk home, with Kate's parents, Michael and Carole Middleton.
The Duke and Duchess of Cambridge welcomed their 8lb 3oz (3.7kg) daughter - fourth in line to the throne - at 7.34pm (NZ time) on Saturday in the Lindo wing of St Mary's Hospital, London.
Just hours later, they appeared on the steps holding the new Princess. Last night, royalists were still anxiously awaiting a name, with Charlotte and Alice as bookies' favourite.
Kate and William spent Saturday night at Kensington Palace with the baby and their first-born, Prince George.
From "Sleeping Cutie" to the "People's Princess", the newest member of the royal family unsurprisingly dominated newspaper headlines.
Largely to the benefit of the fashion and beauty industry, the Princess will be worth $2 billion, or $300 million a year, to the UK economy before she is 10, one unnamed retail expert has predicted.
Her every move, every dress and every hairstyle is certain to be scrutinised, studied and copied across the globe.
"She is going to bring so much glamour," said Penny Junor, royal author and biographer of both Princes William and Harry.
"Princesses wear beautiful clothes. They endear themselves in a way boys don't. We have not had a Princess growing up at the heart of the royal family for such a long time."
Anne, the Princess Royal, born in 1950 in an age before the internet, was something of a "sporty spice", going on to compete at the Olympic Games.
"Not many people will remember Princess Anne growing up," Junor said. "It was a totally different age. And anyway, Anne was never very interested in fashion."
Junor said the new Princess needed to be protected from media intrusion and inevitable scrutiny.
"The thing that worries me is she will be pulled apart. Constantly people will ask what her hair is like, has she put on weight. It will be hard being a teenage princess."
Prince George is already subject to constant attention. While the British media have an agreement with the Duke and Duchess to publish only authorised photos of the Prince, foreign newsmen play by no such rules.
Last month, sneaked pictures were published abroad of George enjoying a day out at a local park; no such photos appeared in the British media.
When it comes to the new baby's development, Auckland clinical psychologist Munira Hairdermota said she would begin to form her own personality before she even realised she was a princess.
"The biggest thing that needs to be taken into account is that because she is royal, there is a lot of speculation on her, but she is just like any other baby and she doesn't realise she is a princess.
"Children have their own personalities and every child is quite individual."
She said George might notice he no longer had his parents' undivided attention, but said Kate and William would be much more informed about parenting as they raised their second child.
All signs pointed to the birth of the new British Princess as being straightforward - but not all mothers should expect to pop out of hospital less than 12 hours after going into labour, said Auckland obstetrician and gynaecologist Dr Sylvia Rosevear.
Kate would have received the best midwifery and medical care.
"She would have had a very model delivery. Her first was very straightforward, so it was likely she would have had a very straightforward second."
Dr Rosevear said the 12-hour turnaround indicated it had been an easy birth rather than a caesarean, which would have kept her in hospital for longer.
Image 1 of 10: Royal fans celebrate the announcement that Catherine, Duchess Of Cambridge has given birth to a baby girl, outside the Lindo Wing at St Mary's Hospital. Photo / Getty Images
"She would have the most support of anyone in both the professional and personal way, and I think that probably has a lot to do with things.
"She's the model figure - she probably didn't put on a lot of weight in pregnancy and she was the right size to start off with."
On Saturday, the Telegraph reported that the Duchess' hairdresser, Amanda Cook Tucker, was seen heading to the hospital, before Kate emerged wearing a bespoke floral dress by Jenny Peckham, with fresh makeup and bouncy blow-dried hair, holding the newborn girl.
A 24-hour standard first birth in the Lindo Wing is believed to cost about $10,000.
Grant Collinge and Magda Gurbowicz, whose baby Lukas played with Prince George during the royal visit to New Zealand last year, said they watched the news with interest.
Mr Collinge, who was among the group of Plunket parents and babies chosen to meet George, Kate and William in Wellington, said he and Ms Gurbowicz were also expecting their second child soon.
"We are also expecting our second one in the next two weeks so my partner Magda has been paying a bit of attention. We are all about babies at the moment.
"A healthy little girl. We're wondering what the names are going to be, and it's just fantastic really."
Soldiers of the 16 Field Regiment Royal New Zealand Artillery will fire a 21-gun salute at Point Jerningham, Wellington, at midday today.
Just hours after the new royal was born, Labour leader Andrew Little said NZ should have a Kiwi head of state. "When it comes to our constitutional arrangements in New Zealand, I have a firm view that our head of state should come from New Zealand," he told TV One's Q+A.
Aucklander Jacqui van der Merwe was lying down watching the news about the Duchess of Cambridge going into labour when her own waters broke on Saturday.
Her new daughter, Baila van der Merwe, will now share her birthday with a princess.
"I was actually lying down watching the news when I heard the announcement that Kate has gone into labour and right then I heard a pop and felt my water break.
"My baby must have got jealous and wanted to come, too. It was quite strange knowing that you are going through the same thing at the same time."
Although Baila was not born until 11.08pm - nearly three hours after the new Princess of Cambridge - it was still special to Mrs van der Merwe, a fan of the Duchess, that they would share a birthday.
"I am a Kate Middleton fan. Not so much the other royals, but I like following her because she is down to earth and not from royal blood. She's like another Diana - just a lovely person."
Mrs van der Merwe hoped Diana's name would be included in the moniker of the new Princess, which had not been announced by print time last night.
Mrs van der Merwe and her husband, Andries, also have a son, Quaden, who is six months older than Prince George, William and Kate's son.
"He came in this morning and had a big cuddle and gave her a little pink bunny ... he has a blue one ... he was absolutely smitten."
Baila was born weighing 3.55kg - about 220g less than the new princess - at the Papakura Primary Birthing Unit near the family's Wattle Downs home so she could have a water birth.
"We are both very lucky to have had such quick and hopefully not too painful births," said Mrs van der Merwe. She said it would be fun comparing the girls' development.
- additional reporting Daily Mail, Telegraph Group Ltd, AP