Oh my gosh! That is the most expensive high pressure hose I have heard of. I know that you are in Australia, but the shipping can't be that much.
The O ring is not always air leaking. It can leak PS fluid as well. I am not saying that that is what it is, but it is possible. Usually there is just a pin hole when the pressure line gives up. That is what mine have done. If you didn't have any leaks, I would be a little, or a lot concerned. I would check it out a little more closely for that kind of money. You might ask to see where it is leaking.
Good luck.
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