The Wallabies' spirited second-half fightback fell short as New Zealand made World Cup history by becoming the first team to win rugby's biggest prize three times and claim back-to-back titles.

ACT Brumbies duo Stephen Moore and David Pocock apologised to Australian fans after the 34-17 loss.

But if ever there was a time when they didn't need to say sorry, this was it. Pocock put in another outstanding performance and confirmed his standing as one of the world's best players.

Moore stepped up as Wallabies captain and led them within striking distance of what would have been a remarkable World Cup triumph.

A year ago the Wallabies were losing fans after off-field dramas and their gold reputation had taken a battering. The supporters are coming back thanks to some courageous performances at the World Cup and a new humility.

Time and time again they were knocked to the canvas in a brutal campaign, but they continued to pick themselves up and deliver.

"Australia – sorry we couldn't get the job done," said Pocock, who has the battle scars of a broken nose and two black eyes.

"I don't know if the pride is back [in the Wallabies jersey], that's for the rugby public to decide. That's what it's all about, when you run out there as a player you know you're representing every young kid who loves rugby and dreams of pulling on the green and gold.

"It's sinking in and I'm sure it will sink in more over the next few days. Pretty gutted. It's been an amazing journey and an amazing experience, but we are certainly pretty gutted to lose."

Wallabies fans across Canberra woke early to watch Australia play New Zealand in front of more than 80,000 fans at the home of England rugby.

They gathered in loungerooms and pubs, hoping that the Wallabies could pull off an against-the-odds triumph.

The pub part-owned by Wallabies flanker Scott Fardy, The Dock, made it a requirement to dress in Wallabies gold with a Fardy-esque beard and headgear.

But the bleary-eyed supporters and players were devastated as the defending champion All Blacks scored three tries to two and snuffed out the Wallabies' comeback charge.

The All Blacks belted the Wallabies for the first 40 minutes and opened up a 21-3 lead thanks to tries from Nehe Milner-Skudder and Ma'a Nonu while superboot Dan Carter nailed his kicking opportunities.

The Wallabies got back in the contest thanks to two Brumbies. First it was Pocock, who has been nominated as one of six contenders for the world player of the year award.

Pocock capped his return from two knee reconstructions with a try from the back of a rolling maul. Then it was over to Brumbies' outside centre Tevita Kuridrani who crashed over to cut the margin to four points.

In the end it wasn't enough and the Wallabies were left emotional and wondering what if.

There were a few dodgy refereeing calls, but in the end the All Blacks were the better team and deserved their victory.

Moore was widely praised for his classy post-match appraisal, refusing to dwell in self-pity and giving the All Blacks due credit before making a point to thank Australia's fans.

"They really deserved to win. They were the best team all tournament, so congratulations to them, they played really well," an emotional Moore said.

"No excuses for us tonight. What I am proud of is the effort we showed right through the 80 minutes. Sometimes you come up against a better team and that was us tonight, they thoroughly deserve everything they get.

"Thanks to all our supporters. Sorry we couldn't get it done for you. We spent a lot of time making sure we knew what it meant playing for Australia every time you pull the jersey on."

The Wallabies might be bearing the wounds of a gutting loss, but they've won back the people who matter most – the fans.

"The heart and the courage in this team ... I believe it's built in there and will last in this team," said coach Michael Cheika.