A 70k deposit. Fanticiful numbers, just admit that housing is unaffordable and starter is not giving us the whole truth of his 350k loan for a 2 bedder on a graduate salary (most likely a grad salary times 2 plus help from the folks)...
I saved a 70k deposit for my first home, on a graduate salary. It took three and a half years of very simple living. I was earning $29k a year at the start of the saving period, and managed to increase this to about $56k a year by the end of it. I shared a small townhouse miles from anywhere, drove a crappy old car and didn't travel.
And I wouldn't have it any other way.
The numbers in the examples above are real. Deal with it.