Australia blew a 13-point lead to suffer a record 10th straight Bledisloe Cup Test loss to New Zealand in Sydney on Saturday night.

The Wallabies appeared set for victory holding a 22-9 lead with 20 minutes to go but two All Black tries broke the hearts of the 70,288 fans at ANZ Stadium and secured a 23-22 win for the visitors.

The win means the All Blacks end the Tri-Nations with a 100 per cent record and haven't lost a Test to their trans-Tasman rivals since 2008.

The first half's only try came in the 15th minute when No.8 Ben McCalman broke clear from the back of a scrum to release young winger James O'Connor, who crashed over in the corner.

The All Blacks could only manage two penalty goals in a disjointed first-half display by the visitors as the Wallabies took a 14-6 lead into the sheds.

Recalled winger Lachie Turner also had an eventful return to Test rugby, nearly scoring in the game's sixth minute only to be denied by a great last-ditch tackle by Cory Jane.

Just four minutes after that Turner turned defender, hauling down All Blacks' fullback Mils Muliaina with the line beckoning.

Matt Giteau's boot proved inaccurate on the night, the centre missing two conversion attempts and two penalty goals to cost the Wallabies 10 vital points.

But that didn't look like it would matter when Adam Ashley-Cooper went over just seven minutes into the second half to extend the Wallabies lead to 13.

The teams traded penalties before All Blacks skipper Richie McCaw found space off the back of a scrum to give the visitors hope with a try in the 66th minute.

Piri Weepu's pressure conversion brought the margin within a converted try and the Blacks scented blood against a tiring Wallabies outfit, who were playing their third Test in as many weeks.

And when No.8 Kieran Read crashed over next to the goalposts six minutes later, Weepu converted to put the All Blacks ahead for the first time in the second half - a lead they wouldn't relinquish.

Following the match a disappointed Giteau admitted he may need to work on his goalkicking.

"We had every hope of winning, every chance, and we didn't so everyone's pretty disappointed," he said.

"Some weeks you hit them (kicks) well, some weeks you don't. Personally, it's probably something I need to look at but it's not really a team issue."

Coach Robbie Deans refused to pinpoint the missed kicks as a reason for the loss, instead highlighting crafty play by the All Blacks that ensured McCaw's try when the Kiwi skipper appeared to disengage early from a scrum.

"They're clever, the way they stay a step ahead," Deans said.

"You've only got to look at the numbers to see they're smart, good luck to them."

All Blacks coach Graham Henry praised his team's spirit after their second come-from-behind win in as many Tri-Nations matches.

"The guys just showed huge character," Henry said.

"They hung in there, got better as the game went on and pulled it out of the fire."

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