THE best Rugby World Cup competition to date was fittingly rewarded with the best final to date.

There were mistakes from both sides, and at one stage the All Blacks threatened to run away with it. But an exciting comeback by Australia reduced what had been an 18-point deficit to just four, leaving the outcome uncertain going into the last quarter of an hour.

Dan Carter, playing his final Test, scored with a drop goal ten minutes from time.

A full score ahead, New Zealand were able to take some of the sting out of the match, and the stand-off sealed the victory with a penalty five minutes from the end.

New Zealand were the first team to win the Webb Ellis Cup, back in 1987. They have now become the first to win it for a third time, as well as the first to retain the trophy.

The All Blacks looked the sharper team from their first attack, in which Ma’a Nonu blasted through the middle. When Australia were penalised for handling in the ruck in their own 22, Carter secured the three points.

Two quick turnovers as the Wallabies tried to hit back emphasised the holders’ superiority in the early stages. But then a knock-on by New Zealand full-back Ben Smith gave Australia the put-in to a scrum, from which they won a penalty, from which Bernard Foley made it 3-3.

After 15 minutes’ play, Wallabies lock Kane Douglas limped off injured and was replaced by Dean Mumm. On their next attack, the All Blacks opted to tap and go when awarded a penalty barely five metres out, but they fluffed a good try-scoring opportunity and conceded a penalty themselves, allowing Australia to clear their lines.

With 25 minutes on the clock, the Wallabies prop Sekope Kepu was penalised for a high tackle on Carter, and the stand-off’s trusty left boot put his team back in front with a kick from just over 30 metres. Australia lost a second player when Matt Giteau had to stay off after a head knock, and he was replaced by Kurtley Beale.

A forward pass in an All Blacks attack went unnoticed by Welsh referee Nigel Evans, but an Australian offside did not. Carter was again successful, this time from close to the right touchline, making it 9-3 to New Zealand with less than five minutes remaining in a tense and error-strewn first half.

Not content to take that lead into the break, the All Blacks went back on the attack straight away and got their reward with the first try of the contest. A powerful surge through the middle produced the chance of an overlap on the right, and some superlative handling from McCaw, Ben Smith and Conrad Smith ended with winger Nehe Milner-Skudder skipping over the line. Carter’s conversion ended the half, giving his team a daunting 16-3 lead.

Sonny Bill Williams came on for Conrad Smith at the start of the second half, and within two minutes the All Blacks were further ahead. The first try was a team effort, but this time it was very much an individual achievement, as Nonu eased through the slightest gap in midfield then ran 50 metres.

Drew Mitchell caught up with him close to the try line, but his impetus carried the big centre over. The conversion attempt was missed, but even so, an already implausible task for Australia had just become nearly impossible. Having played in close contests in each of the four previous weekends - all at Twickenham, including their quarter-final win over Scotland - the Wallabies simply looked to have run out of steam.

They fought back gamely, however, and were given some grounds for optimism when Ben Smith was yellow-carded for a tip tackle on Mitchell close to the line. They took the lineout from the penalty then drove for the line, and David Pocock was awarded the touchdown after the maul went over. Foley’s conversion made it 21-10 with more than 25 minutes to play.

One more score at that stage would have seen the All Blacks home and dry, but the Wallabies weathered some heavy pressure then grabbed their second try. This time the powerful Tevita Kuridrani claimed the credit, latching on to a kick ahead from Will Genia and ploughing his way over. Foley’s conversion cut the gap to 21-17, and with quarter of an hour to go the match was back in the balance.

With ten minutes to go, Carter earned his team some breathing space with a coolly taken drop goal from 35 metres out. His penalty from close to halfway made it 27-17, and there was no way back for the Australians after that. Three minutes from time Beauden Barrett dribbled on after a kick ahead to grab his team''s third try. Carter completed the scoring from in front of the posts.

NEW ZEALAND: Tries: Milner-Skudder, Nonu, Barrett. Cons: Carter. 2 Pens: Carter 4. Drop goal: Carter.

AUSTRALIA: Tries: Pocock, Kuridrani. Cons: Foley 2. Pen: Foley.

New Zealand: B Smith; N Milner-Skudder (B Barrett 65), C Smith (S Williams 41), M Nonu, J Savea; D Carter, A Smith (T Kerr-Barlow 71); J Moody (B Franks 59), D Coles (K Mealamu 65), O Franks (C Faumuina 55), B Retallick, S Whitelock, J Kaino (V Vito 71), R McCaw, K Read. Substitute: S Cane.

Australia: I Folau; A Ashley-Cooper, T Kuridrani, M Giteau (K Beale 28), D Mitchell; B Foley, W Genia (N Phipps 70); S Sio (J Slipper 59), S Moore (T Polota-Nau 56), S Kepu (G Holmes 59), K Douglas (D Mumm 15), R Simmons, S Fardy (B McCalman 61), M Hooper, D Pocock. Substitute: M Toomua.

Referee: N Owens (Wales). Attendance: 80,125.