We walk away with our heads held high: McCullum

New Zealand skipper Brendon McCullum on Sunday said they might not have won the World Cup but they played a good brand of cricket and walk away with their heads held high.

Australia beat New Zealand by seven wickets with 101 balls remaining at the Melbourne Cricket Ground (MCG) here to clinch the sport's ultimate prize for the fifth time.

"Didn't lift the trophy but no regrets. The brand of cricket we've played and we walk away with our heads held high," McCullum said at the post-match presentation ceremony.

"It's the greatest time of our lives and that's how we tried to play the game, with a free spirit and heart. Still think we can be very proud of our achievements in this tournament."

The 33-year-old said that Australia played better cricket and deserved to win.

"We ran into an outstanding team in Australia. They continue to set the standard. Michael Clarke bows out on a high note, they deserved to win," McCullum said.

After opting to bat, New Zealand were reduced to 39/3 in the 13th over but Grant Elliot (83) and Ross Taylor (40), with a 111-run stand for the fourth-wicket, brought the Black Caps back into the game.

However, from the 36th over onwards, Taylor's wicket, when New Zealand were at 150, spelled a collapse as the Kiwis were bowled out for 183 with the last seven wickets falling for only 33 runs.

"Probably unfolded not as planned but we got ourselves back in the game at 150/3. With 180, you still dare to dream, could have ended up differently with a couple of things going our way," he said.

"It's been one hell of a ride for us, right the way through... we played some outstanding cricket."