A drought-breaking Tri-Nations title slipped through the Wallabies' fingers as the All Blacks pulled off a 28-24 comeback victory at a heaving Suncorp Stadium.

Australia wasted a 10-point second-half lead in the pulsating clash through costly turnovers which were duly punished by the ruthless New Zealanders who retained the Tri-Nations and Bledisloe Cup with the win.

The All Blacks scored three straight converted tries after trailing 17-7 early in the second-half to have the decider seemingly wrapped up at 28-17.

But a bustling Ryan Cross try and a last-minute attack had the Wallabies inside the visitors quarter on the last play of the game but couldn't produce the dream finish most of the 52,328-strong crowd wished.

The All Blacks' comeback not only denied Australia their first Tri-Nations title since 2001 but snuffed out hopes of a Bledisloe Cup win with NZ taking a 2-1 lead in the four-match series.

"I'm speechless, we ran ourselves ragged," said Wallabies skipper Stirling Mortlock.

"The build up tonight was for a colossal match and I think we gave that.

"I'm incredibly proud. Unfortunately we didn't get the result we want ... but the growth of the group has been fantastic and I think the boys can hold their heads high."

Two outstanding Matt Giteau-inspired tries within five minutes either side of halftime took the Wallabies from out-of-sorts 7-3 trailers to confident 17-7 leaders.

But a comedy of Australian errors from an ill-conceived Dan Carter chip that led to a counter-attacking try finished by prop Tony Woodcock opened the door for the visitors.

They waltzed right in midway through the second half when another Australian turnover on halfway allowed a Rodney So'oialo breakout.

A Sitiveni Sivivatu dummy then fooled Cross before he put reserve half Piri Weepu over for a 21-17 lead.

The All Blacks continued to carve up the Wallabies defence, a sustained attack allowing Carter to run around Mortlock and then bounce off an attempted shoulder charge by Cross to score the clincher with 12 minutes left.

The All Blacks led for the majority of the first half following a 13th minute try to Mils Muliaina and looked the more damaging team but Australia made the most of a Giteau cross-field kick in the final play of the 40 minutes.

Hynes skilfully took the ball in the air over Sivivatu and off-loaded to Ashley-Cooper to score.

Giteau slotted the conversion for the three-point lead.

But Australia were guilty of needlessly kicking when looking dangerous in space out wide, handing possession back to the visitors.

Wycliff Palu limped off in the 34th minute with a medial ligament injury which may cost him his place in the end-of-season tour.

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