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New South Wales ranked Australia's most expensive state

Xinhua, April 20, 2015 Adjust font size:

New South Wales (NSW) is not just the most economically developed Australian state but it is also the most expensive, according a report released on Monday.

The cost of housing was driving factor, according to the CommSec month-by-month report.

The report, compiled by Australia's Commonwealth Bank, also said NSW was also the best performing economy in the country.

It overtook the nation's Northern Territory as the best economy, while Western Australia fell into third due to the continuing decline of the mining sector. Endi