NEW ZEALAND saved their best to last as a stunning performance led them to a 34-17 win to be crowned world champions.

The All Blacks were in cruise control after a first half try from Nehe Milner-Skudder and 11 points from fly-half Dan Carter.

Ma'a Nonu scored early in the second half and the Wallabies looked dead and buried with 35 minutes to go, but a Ben Smith sin-binning gave them a way back into the game.

A David Pocock try followed by a Tevita Kurindrani score pulled them back to four points with New Zealand down to 14 men before the Kiwis showed their class to pull away.

A Dan Carter dropgoal and penalty gave them breathing space and a 78th minute Beauden Barrett try rounded off a polished show.

New Zealand's start was brutal after a stunning Sam Whitelock take from the kick off.

Aaron Smith sent up the box kick from which Israel Folau was flattened and when the Wallabies tried to swing it wide Michael Hooper was smashed by Conrad Smith.

Will Genia was forced to kick only to be charged down by Brodie Retallick and the All Blacks were awarded the lineout inside the Australian half.

Ma'a Nonu carved through the defence into the 22 but Australia forced the turnover only for Genia to knock on, gifting the All Blacks a perfect attacking scrum 10m out.

Smith took the ball wide of the scrum and grubbered through with his midfield pressing hard, but brilliant cover work by Drew Mitchell allowed Australia to clear.

It was short lived as Nehe Milner-Skudder's first act of the game was to latch onto smart handling by Conrad Smith to surge into the 22 once more.

New Zealand moved it left and only a low Matt Giteau tackle on a rampaging Julian Savea saved a try.

David Pocock went off his feet at the ruck and Dan Carter opened the scoring on 7 minutes with a penalty from the left.

Australia attempted to launch their attack, but were faced with turnovers from Retallick and Conrad Smith as well as a clever territorial kicking game which pinned them back in their own half.

A long kick from Bernard Foley bounced awkwardly for Ben Smith and Nigel Owens spotted the knock on giving the Wallabies a scrum just outside the All Blacks' 22 from which Owen Franks was pinged for binding on the arm.

Bernard Foley knocked over the simple three points and the scores were tied on 13 minutes.

Another slick passing move involving Conrad Smith set Julian Savea free again after New Zealand turned over the restart, but another low tackle - this time by Pocock - halted the attack.

With 14 minutes on the clock, Kane Douglas' World Cup was cruelly ended as he was replaced by Dean Mumm.

Stephen Moore - who was not endearing himself to Nigel Owens - was penalised near the halfway line for not rolling away as Aaron Smith was tripped and Dan Carter found a great touch 10m out with a banana kick.

Rob Simmons was the next man to be penalised for not rolling away giving the All Blacks the chance to restore their lead but Aaron Smith tapped quickly and Scott Fardy and David Pocock combined to gain a penalty for holding on.

On 20 minutes it looked like Dan Carter's World Cup was over when he was hit late by Sekope Kepu.

Carter had been subject to a late fitness test minutes before kick off and wasn't moving too sharply, but managed to shake off the injury to his right leg.

From the resulting lineout, Ma'a Nonu was picked up and dumped by Tevita Kurindrani and Michael Hooper and Australia once again managed to turn the ball over and clear.

Scott Fardy won his team a penalty with 23 minutes on the clock with his second turnover but after pumping the ball into touch the Wallabies were penalised for an infringement in the lineout.

New Zealand went through the phases until Dan Carter and Sekope Kepu collided again - this time the prop going high on the fly-half.

There was no quick tap and Carter nudged his team into the lead again from the same spot as his first penalty.

It was a double blow for the Wallabies as they lost their star man Matt Giteau who was replaced by Kurtley Beale with the game just 27 minutes old.

Four minutes later he was almost called into action to take a long shot at goal, but Stephen Moore asked Bernard Foley to kick the penalty into touch from 52m out.

The skipper overthrew his target and Aaron Smith flipped the ball out to his backs to send Milner-Skudder on his way again.

His chip ahead had a bit too much on it and Adam Ashley-Cooper called for the mark.

New Zealand came roaring back and, after a beautiful pass out to Conrad Smith on the drift by Dan Carter, Milner-Skudder threw a questionable pass out to Ben Smith on the wing.

It should have been called forward by Owens, but from the resulting ruck Will Genia was pinged for offside.

Carter stepped up from the right-hand touchline and doubled his team's lead with four minutes to go to the half.

New Zealand launched one last attack of the first half - and what an attack it was.

Having battered at the Wallaby line, the Kiwis set up a perfect training ground move 10m out.

Dane Coles ran an engaging decoy line to suck in the defenders tight to the ruck and Conrad Smith latched onto the pass from the scrum half and the centre threw a switch back to his number nine.

Smith found McCaw and the skipper fed Nehe Milner-Skudder who dived over in the right-hand corner untouched for the final's first try.

The extras were added by Dan Carter from the touchline and New Zealand sprinted back to the changing room 16-3 up.

Australia looked like a side with no answer, and with Matt Giteau off the field, were struggling to ignite any of their attacking plays.

Sonny Bill Williams replaced Conrad Smith - who had been the player on the pitch in the first half - at half time and it was he who made the second try of the game.

After offloading to Milner-Skudder to get over the gainline, he was at first receiver for the next phase.

He took the ball into contact, popped the ball up basketball style to his centre partner Ma'a Nonu who carved through, stepped Kurtley Beale and dived over to give New Zealand an 18-point buffer.

Dan Carter missed the conversion from the left hand side.

Australia looked a side beaten with 35 still to play as cries of All Blacks echoed around a capacity Twickenham interspersed with verses of Swing Low.

They finally made some inroads with a set-play from a scrum when Drew Mitchell broke free from inside his own half.

The winger drifted away from his support with Israel Folau free to his left and Richie McCaw turned the ball over which resulted in a scrum.

A crazy passage of play ensued as the Wallaby scrum was shunted into reverse and Aaron Smith fed Milner-Skudder.

His offload found Kurtley Beale inside his own 22 and the replacement raced up the touchline and stepped inside Dan Carter before offloading.

The ball found its way to Kieran Read and the Australian back row pounced for another holding on penalty.

Foley kicked to touch and the Wallabies set up an attack inside the 22.

As Drew Mitchell took the ball into contact, Ben Smith made the tackle and lifted his leg.

With Michael Hooper propelling the winger through contact, he went above the horizontal and Nigel Owens adjudged it to be worthy of a yellow card.

Australia kicked the penalty to touch and a ferocious driving maul powered over the line with David Pocock claiming the try with 52 minutes on the clock.

Foley added the extras and Australia edged their way back into the game and got their attacking patterns working.

After going through several phases, they were pinged for holding on inside the New Zealand 22.

The All Blacks looked rattled for the first time in the game with Dan Carter missing his touch but regained their composure by keeping the ball tight while down to 14 men.

They forced a penalty out for not releasing and Carter did not miss his touch this time - finding it inside the 22 on the hour mark.

Both sides had switched up their front row and Scott Fardy made way for Ben McCalman.

Three minutes later Tevita Kurindrani blew the game wide open.

Bernard Foley, flirting on the right-hand touchline, called for Genia to kick over the top.

He gathered inside the 22, offloaded to Kurindrani who stepped Dan Carter and dived over to score the Wallabies' second try.

Bernard Foley added the extras and it was a four-point ballgame.

Ben Smith returned to the field after watching his side concede 14 points and Beauden Barrett entered the fray for try-scorer Milner-Skudder.

Twickenham rumbled with the game poised and on 69 minutes, Dan Carter smashed over a dropgoal from 40m out to stretch his team's lead to seven.

Both scrum halfs left the field to be replaced by Nick Phipps and Tawera Kerr-Barlow and Victor Vito took over from Jerome Kaino.

With seven minutes to go, the Wallaby front row were penalised in a scrum for dropping to their knees and Dan Carter nailed the monster 50m penalty to give New Zealand breathing space at 27-17.

Two minutes later Australia launched wave after attacking wave, but the All Blacks' defence held firm.

After clearing their lines once, the Wallabies came a them again but Drew Mitchell knocked on for a second time.

This time, it was picked up by Ben Smith, who burst upfield from inside his own 22 before kicking ahead.

Beauden Barrett ousprinted David Pocock, gathered the ball and dived over under the posts.

Dan Carter kicked the extra two with his wrong foot to make the score 34-17.

There was time for a restart, and with his whole team calling for Sonny Bill Williams to kick the ball dead, he took it into contact and flipped it out the back door to Ben Smith.

The fullback duly booted it into touch with the clock dead to crown New Zealand as world champions for the second time in a row.