They told them they were dreaming. The New Zealand press screamed it in bold type during the week, what four million Kiwis thought of the Wallabies’ chances of causing an upset in the second Bledisloe Cup Test in Dunedin tonight.

Well, the Wallabies dared to dream. After their record 54-34 loss to the All Blacks in Sydney last Saturday night, they produced a stunning form reversal and were just minutes away from a breathtaking upset victory.

The Wallabies may have lost 35-29, but they were more than competitive and regained respect. The two teams scored five tries apiece with the perfect goal-kicking of All Blacks’ Beauden Barrett, who also scored two tries, including the match-winner with three minutes to go, proving the difference.

The All Blacks have retained the Bledisloe Cup for a record 15th straight year, but the Wallabies have restored faith in Australian rugby. “We are learning, we are growing and that was a great growth step,” the Wallabies captain, Michael Hooper, said.

The inclusion of Rob Simmons, Tevita Kuridrani and Dane Haylett-Petty shored up the Wallabies’ fragile defence, while inside-centre Kurtley Beale defended in the front-line, avoiding some of the confusion in Sydney.

A lighting problem at the indoor Forsyth Barr Stadium delayed the kick-off by 10 minutes. At first the Wallabies stayed on the field, while the All Blacks went straight back to their dressing-room.

In a spectacular start, Australia raced to a 17-0 lead in the first 14 minutes and led 17-14 at half-time after outscoring the All Blacks three tries to two.

Wallabies full-back Israel Folau scored the first try of the game after 26 seconds after intercepting a pass and racing 60 metres to score.

Hooper scored in the 10th minute after peeling off a maul from a 15 metre lineout, equaling Jeremy Paul and Rocky Elsom as the leading Wallabies try-scorers in the forwards.

Significantly, the try originated from a new kicking tactic by the Wallabies with Bernard Foley putting up a high ball, which was knocked into touch by All Blacks full-back Damian McKenzie, giving Australia the attacking lineout.

It was the most points the Wallabies have scored in the first 20 minutes of a Test since 2005, which was also against the All Blacks.

Foley scored in the 14th minute following a break from a scrum by half-back Will Genia, who linked with Hooper to put Foley away.

The All Blacks finally got on the scoreboard with a try to winger Rieko Ioane in the 21st minute. From a maul from a five metre lineout, All Blacks half-back Aaron Smith gave Ioane an inside ball and he went over despite Genia’s attempted tackle.

Foley edged the Wallabies further ahead with a penalty goal in the 22nd minute, but the All Blacks were starting to look ominous.

Aaron Smith scored on half-time. Picking up the ball behind a dominant scrum five metres out, Smith stepped inside Hooper to put the All Blacks back in the game.

Barrett put the All Blacks ahead for the first time with a try in the 60th minute, running the blind side from a five metre scrum but the Wallabies struck back to lead 22-21 with a Genia try in the 66th minute when he ran from a ruck 15 metres from the All Blacks’ line, beating three defenders.

The All Blacks regained the lead 28-22 in the 70th minute with a try to Ben Smith, who scored on the 22nd phase of a relentless attacking movement.

It looked as if the Wallabies’ impossible dream had come true when Beale put them back in front with a try in the 76th minute, but All Blacks captain Kieran Read won the restart and then made a break from the ensuing play, passing to replacement halfback T J Perenara, who popped the ball back to Barrett.

“We had to dig deep,” Read said. “The game is about little moments and we got one at the end. We are pretty proud at the moment. We put a lot into winning this cup and holding onto it.”

The Wallabies will now prepare for their next Test against the Springboks in Perth on Saturday week, which could very well be like an away game following the anger in Western Australia about the ARU’s axing of the Western Force.

Wallabies coach Michael Cheika said he believed the Australians deserved to win. “You don’t like to be gallant losers,” Cheika said. “That’s not what we want to be. I know the team will improve as the season goes on and we are there together, but we’ve got to be ready for these games because they are the first ones and they are the important ones.

“I thought we deserved to win. We did enough and we got a few key calls against us at really important times. That’s the way she rolls. Maybe the script was written. It’s extremely disappointing. We have copped a stack of grief from everyone. That’s not what our boys deserve. I understand that’s the way it goes sometimes, but I wanted them to get the reward, but it didn’t end up working out that way.

“We should have won it and I apologise to Aussies for that. They want to wake up having beaten New Zealand. Our next match in Perth will be huge. It will be important to get the people behind us.”