A Ladbrokes employee displays the name betting odds for the baby princess yesterday outside Kensington Palace in London. Photo: PA Wire

Prince Harry yesterday has spoken about his baby niece for the first time, describing the Duke and Duchess of Cambridge’s baby as “absolutely beautiful”.

Harry, who is in Australia on attachment with the country’s armed forces, said he could not wait to meet the infant princess, who was born on Saturday at 8.34am, weighing 8lbs 3oz. Her parents William and Kate also thanked well-wishers for the support they had received following the birth.

A Kensington Palace spokesman said: “The Duke and Duchess are hugely grateful for the messages of congratulations they have received from people all over the world.

“It means a great deal to them that so many people have celebrated the arrival of their new daughter.” He added: “She is absolutely beautiful. I can’t wait to meet her.”

The Cambridges’ baby daughter was visited by her doting grandparents during the day as the world waited for the announcement of her name.

The Prince of Wales and Duchess of Cornwall joined Michael and Carole Middleton at Kensington Palace for a family gathering to welcome their new granddaughter.

Prince Charles has made no secret of the fact he wanted his second grandchild to be a girl.

And the heir to the throne wasted no time in meeting his granddaughter, arriving behind the wheel of an Audi estate car with Camilla in the passenger seat beside him.

The royal couple joined Carole Middleton and her daughter Pippa, and were soon followed by Michael Middleton.

The Cambridges’ daughter is fourth in line to the throne and will be affectionately known as the spare to the heir.

Around 10 hours after she was born the baby princess took part in her first photocall outside hospital, and delighted the world as she slept in the arms of her mother.

Harry, in Australia on attachment with the armed forces, says he cannot wait to meet infant princess

Gun salutes will be fired in Hyde Park and at the Tower of London this afternoon to mark the birth.

William and Kate have yet to name their daughter and the wait has sparked a betting frenzy among royal fans trying to guess. The favourite name among bookies has changed repeatedly in recent days, with Alice and Charlotte among those fancied but Elizabeth and Olivia also proving popular.

William Hill has seen six figures wagered on the royal name since the princess was born and said across the industry the figure could reach a million pounds by today.

The betting firm’s spokesman, Rupert Adams, said Alice was again its favourite at 5/2, followed by Charlotte 3/1, Victoria 11/2, Olivia 6/1, Elizabeth 7/1 and Diana 9/1.

He said: “Our turnover on the royal baby markets is chasing towards the £200,000 mark – which suggests that the industry will hit £1 million by the close of play.”

For bookmakers Coral, Alice is ahead at 3/1, while the odds have been slashed on second place Charlotte from 5/2 to 5/1.

Corral spokeswoman Nicola McGeady said: “The gamble on Charlotte is showing no signs of slowing down and although Alice will be the worst result for us, Charlotte will also prove very costly following the amount of bets we’ve taken on it.”

Jessica Bridge of Ladbrokes said the betting markets yesterday had been “total mayhem” and the names Charlotte and Alice were the joint favourites at 3/1, followed by Victoria 5/1 and Elizabeth 6/1. She added: “Bookies all over the UK are hoping and praying for any name other than Alice, Charlotte, Victoria, Elizabeth, Olivia, Alexandra or Diana.”

William and Kate are expected to leave Kensington Palace for their Norfolk bolt-hole Anmer Hall some time over the next hours.

Their home is near the Queen’s private Sandringham estate in Norfolk, and they are likely to take the opportunity to show the monarch and Duke of Edinburgh their fifth great-grandchild.