It was a cracker of a match and again showed that two-point goals play a crucial role in the outcome.
Waikato took early control of the encounter, showing stronger connections down the court than South, and the northern team's shooting circle settled into its rhythm.
South goal shoot Te Paea Selby-Rickit was forced to do a mountain of work, under huge pressure from Waikato goal keep Jo Trip, and was often the only option in the circle for feeders.
South trailed by five at quartertime, a margin that continued to extend throughout the second quarter.
Waikato goal shoot Malia Paseka was outstanding in the air, and continually pulled in ball that looked to be flying over the baseline.
With a deficit of eight at halftime, South bought Kristen Craig into goal attack, and Sophie Napper on at centre.
Waikato moved Samantha Sinclair to centre where a real arm wrestle ensued between her and Napper.
Napper was impressive for South, adding energy and tireless defence that lifted her team all over the court.
Her combination with wing attack Gina Crampton was exciting to watch as they found the circle edge and swung the ball to find space in the circle.
At the end of the third quarter, the two-point goals really came into play, and Selby-Rickit began to slot them just as she had done all tournament.
Craig provided more options in the shooting circle and made some crucial two-point shots in the final minutes of the quarter to bring the score to 45-44.
The final quarter was thrilling, featuring a display of desperate intercepts, long-range shooting and multiple bodies hitting the deck.
A flying intercept from Phoenix Karaka gave South a lead of four, but Samantha Sinclair retaliated with an equally impressive circle-edge intercept that Waikato converted.
With four minutes to play, the lead had switched again to Waikato, and the crowd was desperately cheering for its side to cause a turnover.
The turnover came with less than a minute on the clock when Waikato was called for stepping. However, South could not get the ball down the court before the final whistle, and Waikato regained its title.
South zone coach Reinga Te Huia said she was very proud of her team.
''They were really gutsy to come back,'' she said.
The under-19 final was a tough match-up between Manuwatu and East Hamilton, which Manuwatu won 51-41.
It was close until the final quarter, when Manuwatu slotted several two-point shots to extend its lead out of the reach of East Waikato.
Dunedin under-19 player Danielle Gray was named in the under-19 tournament team.
Dunedin under-23 players Gina Crampton, Te Paea Selby-Rickit and Phoenix Karaka were named in the under-23 tournament team.
Crampton was also named most valuable midcourter of the tournament.
- Bridget Rutherford.