Price differentials between ritzier suburbs and their more affordable neighbours offer clever buying, latest figures show.
"Buyers willing to slightly compromise on location could make significant financial savings," Realmark managing director John Percudani said.
Mr Percudani has compiled a list of neighbouring suburbs with significantly different median house prices.
Traditionally, being next to an upmarket suburb will see a flow-on effect to neighbouring areas. Topping the list is Peppermint Grove, whose median price of $3.95 million is close to three times more than neighbouring Mosman Park ($1.4 million).
South of the river, North Coogee ($1.3 million) is significantly more expensive than neighbouring Spearwood ($545,000), Coogee ($860,000) and Hamilton Hill ($554,000), while suburbs bordering Rossmoyne ($1.1 million), such as Bull Creek ($765,000) and Willetton ($772,000), also represented comparatively good value.