OK first I have to admit an extreme bias towards buying - property is a passion of mine.

Now having said that, it really comes down to lifestyle decisions. Are you happy to sacrifice some of your current lifestyle for potiential future benefits. There is nothing wrong with renting. Also if you did buy, would you be intending on living there forever after - if not then you need to consider how it would go in a resale or as a rental.

Continuing to save until you decide what you want to do is always a good option. You can never have too much of a deposit, and remember that there will be other purchase costs as well.

Good luck with your decision.