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First-timers give areas faceliftRenewed interest in property on the part of first-time buyers is spurring wholesale upgrading in areas that had become run down or neglected.Upmarket not always best valueInvestors and homeowners who shunned older, lower- to middle-income areas in favour of luxury, upmarket suburbs may have lost out on some spectacular capital gains last year. By Joan MullerRenting to Owning: Tips for first-time homebuyersThe recent interest rate cuts have brought down the cost of home loans making homeownership a little more accessible for first-time home buyers. Given that prices have remained fairly flat over the last two years, now might just be a great time to take the leap to homeownership.