All Blacks coach Wayne Smith hopes the New Zealand rugby public will applaud the spirit and determination of the side despite another heartbreaking loss to the Wallabies.

The John Eales-led Wallabies snatched a 29-26 victory from the All Blacks in Saturday's Tri-Nations decider after No.8 Toutai Kefu crossed for the match-winning try with just over a minute remaining.

The All Blacks fought back from a 19-6 half-time deficit to lead 26-19 only to let the Wallabies sneak home on the death.

"I just hope that the New Zealand public understand what these guys put into this game," Smith said. "As a New Zealander I'm proud of them.

"I don't expect a ticker-tape parade when we get back but I think New Zealanders will recognise the heart and spirit shown by these guys. You can't be critical of the character - under real pressure and adversity when we were down 19-6 we still kept having a crack.

"It was shattering before half-time (but) we played some good footy in the second half ... the end was earth shattering but that's footy."

Smith acknowledged the All Blacks still needed to find the same composure that has separated the Wallabies from other sides in tight situations.

"We didn't start very well, we didn't have enough composure. We were focused for a good 20 minutes in the second half but we didn't do the simple things well and we can't moan.

"Clearly, under pressure, they are able to do things slightly better than us."

All Blacks captain Anton Oliver said the game was there for the taking, but was lamenting some silly errors.

"It was only a couple of minutes before fulltime ... it was there for the wanting," Oliver said. "We should have won really.

"I certainly feel we played enough rugby to win it but until we eliminate our error rate we won't win."