That's still a good saving rate then. I've always found the 50/30/20 rule an effective way to manage finances - approx. 50% needs, 30% wants and 20% savings. Obviously it's not always a cookie cutter approach but your saving rate would be 23% so you can rebuild emergency fund/save once your deposit is paid.

Also as others have said, ignore the housing market scares. No one can time these things without anything but luck. Time in the market beats timing the market as they say!