Is there are any wisdom re-approaching an organisation for an offer I had recently rejected on salary grounds?

In short, no.

What's your rationale for doing so?

As long as you were very professional in the way you rejected their offer it is worth going back to them. Be honest about why you have changed your mind.If they still want you and they are confident you are not going to change your mind again before you join or decide to change your mind very quickly just after you join then they may make you another offer. But ... they may decide to offer you less!

If you are going back to ask for a higher figure, there's no point. If they weren't willing to negotiate before, they won't be now.If you're going back with your tail between your legs, think carefully about how badly you need the job. If it's a matter of keeping a roof over your head, then give it a shot. However, chances are that the company won't be keen. They will naturally question your priorities and interest in the job itself and, depending how the hire is being handled, you could find yourself tarred by your boss and colleagues throughout your time with the firm.

Thanks all for your comments. I'll stick with my original decision. The role is attractive in terms of location and the prospects it offers. It would however require a salary cut, a double minus as the cost of living in the area is slightly higher than where I am at the moment.