When we bought our first house (in 2005) banks were still lending 100% of the cost loans, so that's what we did, technically, the first home buyers grant, then only $7,000 was used for the 'deposit' and everything else was covered by the home loan.
When we bought our second house in 2009, we sold our first house and used the equity that house had gained as deposit.
When we bought our third house in 2011, whilst we kept our second house as an investment, we still used the equity in that house to secure the home loan on the third house.
So I guess technically, we never had to save for a deposit. We were either lucky, or foolish to risk a 100% loan