But the Baby Blacks, unbeaten since the competition was formed in 2008, had to withstand a spirited England performance in the final to claim their fourth consecutive title.
England took an early lead with a try from Christian Wade and then mounted a determined comeback after falling 23-10 down early in the second half.
Sale prop Henry Thomas thundered over to finish an excellent team try before Wasps wing Wade scored his second as England drew to within a point.
But New Zealand pulled clear again with a penalty from fly-half Gareth Anscombe, who finished with 18 points, before wrapping up the win with their third try of the match.
England captain Alex Gray said: "It was a tough battle and I imagine it was quite good watching.
"We came here thinking we could take it and if things had been different we could have done, but congratulations to New Zealand, they showed they are a class team and good luck to them."
Wales beat Ireland 38-24 to finish seventh while Scotland lost 15-14 to Argentina and ended up 10th.
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