diff --git a/synapse/storage/util/id_generators.py b/synapse/storage/util/id_generators.py
index 9876ec252f54..46bb753bb015 100644
--- a/synapse/storage/util/id_generators.py
+++ b/synapse/storage/util/id_generators.py
@@ -726,11 +726,29 @@ def get_current_token_for_writer(self, instance_name: str) -> int:
                 instance_name, self._persisted_upto_position
             )
 
-            # We also ensure that we always return at least the
-            # `persisted_upto_position` for ourselves, so that when we notify
-            # other workers about our position we give them the max valid value
-            # here so that nothing waits for us to advance.
+            max_pos = max(
+                self._current_positions.values(), default=self._persisted_upto_position
+            )
+
+            # We want to return the maximum "current token" that we can for a
+            # writer, this helps ensure that streams progress as fast as
+            # possible.
             pos = max(pos, self._persisted_upto_position)
+
+            if (
+                self._instance_name == instance_name
+                and self._in_flight_fetches
+                and self._unfinished_ids
+            ):
+                # For our own instance when there's nothing in flight, it's safe
+                # to advance to the maximum persisted position we've seen (as we
+                # know that any new tokens we request will be greater).
+                max_pos = max(
+                    self._current_positions.values(),
+                    default=self._persisted_upto_position,
+                )
+                pos = max(pos, max_pos)
+
             return self._return_factor * pos
 
     def get_minimal_local_current_token(self) -> int: