King Charles III bestows Prince and Princess of Wales titles on William and Kate

In his first speech, King Charles III has bestowed upon the Duchess of Cambridge one of the most well known of royal titles.

It's not known how fully Kate will use the famous title.

In his first speech as monarch, King Charles III has announced that a new Prince and Princess of Wales have been appointed.

The new King spoke in a prerecorded message broadcast in the UK at 6pm, Friday (3am, Saturday AEDT) on Friday – the first full day of his reign.

Traditionally, the Welsh titles are bestowed upon the next in line to the throne.

With his accession, the title passes to Prince William and to his wife.

The Prince and Princess of Wales toitle is given to the next in line to the throne. (Photo by Daniel LEAL / AFP)

“As my heir, William now assumes the Scottish titles which have meant so much to me,” the King said.

“He succeeds me as Duke of Cornwall and takes on the responsibilities for the Duchy of Cornwall which I have undertaken for more than five decades.

“Today, I am proud to create him Prince of Wales, Tywysog Cymru (the Welsh language version of the title), the country whose title I have been so greatly privileged to bear during so much of my life and duty.

“With Catherine beside him, our new Prince and Princess of Wales will, I know, continue to inspire and lead our national conversations, helping to bring the marginal to the centre ground where vital help can be given.”

It's not known how fully Kate will use the famous title.

It would be the first time the title has been used since the death of William’s mother Diana in 1997.

However, the Duchess of Cambridge appears to be circumspect about whether she will embrace it.

Royal sources, widely quoted by the UK papers, have confirmed while she indeed has the title she “wants to create her own path”.

“The couple are focused on deepening the trust and respect of the people of Wales over time,” the source said.

“The Prince and Princess of Wales will approach their roles in the modest and humble way they’ve approached their work previously.

“The new Princess of Wales appreciates the history associated with this role but will understandably want to look to the future as she creates her own path.”

The former and the new Prince and Princess of Wales. (Photo by AFP)

With the royal line of succession going up a notch, it also means Harry and Meghan – despite their estrangement – are drawn closer into the fold.

The Duke and Duchess of Sussex’s children are now officially Prince Archie and Princess Lilibet.