The gap between the first asking price and the eventual sale price has widened. Not by a small margin — by enough that the conversation with vendors at the listing appointment is shifting noticeably.

The widening gap

In Q4 2025, the average gap between original asking price and final sale price in Sydney’s inner-ring suburbs was about 4.1%. In April 2026, that figure is closer to 6.8%. That is a meaningful move in six months, and it has been steady upward rather than spiky.

The interesting part is where the widening shows up. Houses in the $2M to $3.5M band are seeing the biggest discount creep. Apartments under $1.2M are barely affected. Premium stock above $5M is actually narrowing the gap slightly.

What is driving it

Three things, in roughly equal measure. First, listing volume is genuinely up. Mid-2025’s stock shortage has eased. Second, the underwriting buffer banks are using has tightened slightly, which is showing up as buyers stretching less than they would have in 2024. Third, vendors are still pricing off late-2024 comparables, which were optimistic.

That third point is the listing agent’s actual job to manage.

What listing agents are doing

The reset conversations at the four-week mark have become standard practice on slower listings. The mechanic that works best is the data conversation, not the emotional one. Pull three matched comparables that sold in the last six weeks. Show actual sold prices, not asking prices. Walk the vendor through days-on-market and the discount math. The decision usually makes itself after that.

What it means for buyers

If you are buying in Sydney’s middle band right now, you have more room to negotiate than you did a year ago. Not unlimited room, but real room. Properties that have been on the market for more than five weeks are particularly worth a sharper offer.

A note on the autumn run

The May to early July window in Sydney is usually quieter. The vendor decisions made now will land in that quieter selling window. If you are sitting on a property that needs to sell by spring, the price conversation needs to happen in May, not September. By spring the comparables will have moved again, and the advantage of being ready early will be gone.