However they were let down be poor execution and discipline during the contest and were made to pay for it.
As a been a familiar scene during this year's Bledisloe Cup, the All Blacks were able to score an intercept try, while they also secured five turnovers at the breakdown, disrupted the Australian lineout and forced errors.
Rennie said the turnovers in particular hurt his side.
"The opposition are exposed when you turn the ball over because you generally have a group of men on one side of the field," he explained.
"So, we have to deny them opportunities and if we make errors we have to clean it up quickly so they don't get an advantage off of it."
With the Springboks next on the agenda for the Wallabies, Rennie admitted the side needed to be better when it came to their security and use of the ball after turnovers and wayward passes proved costly in Perth.
"We've got great people here, we're working really hard and it's a challenge when you're playing the best teams in the world. I have no doubt we're going to learn because the All Blacks are such a good side and we're relishing the opportunity to now play against the Springboks.
"It's brilliant; it's what we want and what we need. We'll play the Argentinians, we're going to play Japan and, we're pretty sure, Scotland, England and Wales. It's a great run of games and important for our development, so we're excited."