The Wales family is seeking a new start in a new home after a troubling past few years, relaxing into the luxury of Forest Lodge.
Located on the Crown estate in Windsor, the eight-bedroom, six-bathroom home Prince William, Catherine, Princess of Wales, Prince George, Princess Charlotte, and Prince Louis now inhabit is worth an estimated £16 million, which is equivalent to approximately $33 million.
According to the ABS’s data, the average Aussie property has surpassed the $1 million mark for the first time in history, with prospective homeowners having to shell out $1,002,500 for a home, at least from the March quarter.
The Wales family’s new home is worth 31 times more than an Aussie home. (Instagram/princeandprincessofwales)
This makes the Wales’ new home a whopping 31 times more expensive than the average Aussie property.
And it’s for good reason.
Forest Lodge was first built in the 1770s and was purchased by the Crown Estate in 1829 when the Duke of Wellington was prime minister, and became the residence of the Deputy Ranger of Windsor Great Park until 1937, when King Edward VIII decided he wanted his equerry to live there.
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William and Kate’s new home, Forest Lodge, formerly known as Holly Grove, pictured from above. (Getty)
Substantial renovations have occured on the property over time. (PA Images via Getty Images)
By the early 1900s it was enlarged to include eights bedrooms, six bathrooms, a long gallery and a principal drawing room accessed from a central hall.
It was again remodelled in 2001, with photos from the construction revealing the home has at least two reception rooms, each with marble fireplaces.
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Other features include elaborate plaster cornices and ceiling decoration, Venetian windows and a half-barrel vaulted hallway ceiling.
Its exterior features Flemish-bond brickwork, a slate and tile roof and a mixture of bay and sash windows featuring gauged brick arches.
The house boasts antique finishings. (PA Images via Getty Images)
In 1988, the home was offered for rent on a 20-year lease. At the time, it had an estimated value of $6.2 million.
But just three years later, in 2001, the home underwent a $3.1 million renovation with the aim of restoring it to its former glory while conserving its period features.
This brought the property’s value to $11.4 million, and it was reported it would be available to rent later that year for an eye-watering $32,000 a month.
A reception room of Grade II-listed Forest Lodge (PA Images via Getty Images)
The front reception room of the Wales family’s new home. (PA Images via Getty Images)
Today it is a Grade II heritage-listed property, meaning it of intermediate historical or architectural importance, and requires planning permission for any significant alterations, including demolition.
The Prince and Princess of Wales have added their own personal touches to the property.
The BBC recently shared redacted planning applications lodged with the Royal Borough of Windsor and Maidenhead show permission was granted earlier this year for minor internal and external alterations.
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The council’s decision notice refers to the removal of a window and works to a fireplace.
Will and Kate are said to be funding any works themselves, as well as the cost of the move from their current home.
The Wales couple will be paying market rent on the property. (PA Images via Getty Images)
It has been reported they will pay market rent on the property themselves, though this will eventually go back to the Crown Estate, which in a roundabout way will go back to Prince William’s father King Charles via the Sovereign Grant.
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