Young golf star Adam Scott desperately fought a wayward putter with time running out to emerge with a one shot lead going into the final round of the Australian Masters on Saturday.

With his first major home tournament win in sight to back up three European Tour victories, Scott could be forgiven for looking a big ragged around the edges.

But his composure after dropping two shots in the closing three holes betrayed no inner thoughts of panic.

Even his putting woes he portrayed as a minor irritation.

"It's just my putting that's bothering me at the moment," Scott said after adding a 69 to his earlier rounds of 70 69.

"I'm playing great. I really feel like I'm hitting the ball well and I've worked out a good way to get around this golf course so I'll just go and hit a few putts and hopefully get a good flowing stroke."

The elegant-swinging Queenslander was cruising along four shots in the lead when he was derailed by a series of short putts.

After swooping on five birdies in 10 holes he watched his ball drift away three times from easily makeable distances on the homeward nine.

That left him eight under for the tournament on 208, one ahead of Gavin Coles of New South Wales who has been persistently biting at the leaders' heels since the start.

Coles also shot 69 to stay ahead of fast-finishing Robert Allenby, Nick O'Hern and Craig Parry.

Allenby claimed outright third on 210 after a 65 - O'Hern shot the same for fourth alongside Parry.

The third player on 211 was the leader for the first two days, West Australian Steve Collins who slumped to a third round 75.

Stuart Appleby also moved into the picture after a 65, while fellow Victorian Aaron Baddeley strolled out early after almost missing the cut and came in with a course record 64 to be 10th.

Scott has been troubled by an imperfect putting stroke recently but is philosophical about the reasons for it.

"That's pretty much shown up again," Scott said.

"To be fair though I haven't really worked that hard on my putting, apart from changing putter so I'm not really that surprised.

"I've just been going off a bit of feel and it kind of left me towards the end of the day.

"The ones I really struggled with was five feet today, especially on (bogey holes) 14, 16 and 18...it shows up more in the short ones I think than the long ones."

Scott has triumphed twice on the tough European Tour this season, in the Qatar Masters and Scottish PGA, as well as snaring a top 10 finish in the US Masters.

His attitude is that victory at home will come when it is ready and he summed up his day with mixed feelings.

"I started three back and now I'm one in front - not a bad day's work really but when you're standing out there with a couple to go and four in front it's a bit disappointing," he said.

He burst to the front with birdies at the fourth, sixth, seventh, eighth and 10th holes and wants that sort of start on Sunday, given the likelihood of benign conditions for the early starters.

"To get off to a start like today would be great but if I don't I think there are lot of people in this tournament... and a few of the guys going out earlier can definitely go and shoot five under on the front nine if the weather's good," Scott said.

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