"I think we were a bit lucky to come between a Olympic year and an America's Cup. But no NZ team have won it in 44 years and I think we're only the third to win it and the first to win it in Australia."
McDiarmid had attended the Australia-based, 10-day regatta for the last seven years. The crew had previously placed third and second, coming as close as one point to winning the title.
"It was definitely a feeling of relief rather than ecstasy because we'd gone there to win it a couple years in a row and we were very disappointed the year before with everything that happened. We felt we were the best boat there by a country mile and to come home without the trophy was a huge disappointment."
The Taipa-born sailor said finishing second as the favourites last year taught the Honda Marine-sponsored crew how tough it would be to win the regatta.
"It took us a while to figure out how to win a race over there and what you needed to do. We had all the equipment and boat and boat-handling, winning the regatta was just getting our head around it and getting all the other things in place."
This year's race was held in Sydney Harbour, which McDiarmid said gave a substantial advantage to the local sailors.
"You need to be a lot better than what they are. They race there every weekend, we're racing in Australian-designed boats, with Australian rules on an Australian harbour backed up by an Australian jury. You fully have to beat them at their own game."
The first race of the 2018-2019 regatta begins on March 1 next year.