A rare waterfront property in Wellington Point has hit the market for the first time in nearly 26 years.

A trophy property adorning Hobart’s stunning waterfront precinct has a new owner.

The iconic Hydro Majestic Hotel, one of Australia’s most celebrated heritage hotels, has been offered for sale via an International Expression of Interest campaign managed by specialist hotel brokerage firm HTL Property.

RWC Retail and Lioncorp Commercial are bringing to market one of Brisbane's most tightly held neighbourhood shopping centres, with Acacia Marketplace for sale for the first time in 23 years.

Market Street and Martin Place have zero vacancy. George Street and Castlereagh Street are effectively full. Sydney's CBD retail core is now the tightest in the country, and luxury accounts for a third of it.

Two years ago Perth's CBD retail vacancy sat at 14 per cent. It is now 8.4 per cent. The shopfronts that filled the gap are not cafes or services. They are jewellers, watchmakers and luxury fashion houses.

Nearly one in five Melbourne CBD offices is empty. Parking is cheaper than it was in 2013. Retail vacancy has dropped from 10 per cent to 7.6 per cent in two years. The numbers contradict until you look at who is actually showing up.

Most CBD retail markets depend on who works in the city during the week. Hobart's depends on who visits it, and why. The vacancy rate, tenant mix and trading rhythm all reflect a city centre built differently.

One in four offices in Canberra's Civic Centre is empty. The public servants who remain are not all coming in. Cafes keep opening anyway, and a different population is starting to fill the daytime gap.

Brisbane has the tightest office market in the country. Its retail vacancy just climbed to the second highest. Full offices and empty shopfronts do not usually sit side by side. In Brisbane they do.

Desks are emptier. Shopfronts are fuller. Parking is more expensive. Adelaide's CBD is pulling in different directions on paper, but the street-level tenant mix connects them into a single story.

Perhaps we need to consider another possibility. This is simply a normal commercial property market, and the indicators are increasingly pointing in the right direction.