"The win against the New Zealand in Brisbane was a great way to sign-off from test rugby this year."
The Wallabies didn't get carried away with their celebrations after the victory but now realise they can beat any team in the world, he said.
"That self-belief is spreading across the Wallabies team. It's real, and you can see it out there in our individual and collective performances which have been improving every week.
"I didn't speak to the Kiwi boys after the games, but I did have a chat with quite a few of the Wallabies in the dressing rooms.
"No one was getting too carried away with that one win, which is good. It just backed up the growing feeling that we can beat anyone in the world if we play to our ability.
"From the outside looking in, it seems that the All Blacks players grow a few inches every time they put that jersey on.
"The All Blacks have been dominant for a really long time. What they have been able to do is special, but we feel we are ready to challenge that dominance."
Folau this week announced he would be taking an extended break from rugby and would miss the Wallabies end-of-year tour.
"I feel like I've still got a lot of footy in me as well - I'm only 28, so I reckon this break will put me in good stead for years to come, particularly with a World Cup campaign on the horizon.
"If you look at the All Blacks in recent years, they've been really aware that from a planning and player welfare perspective they need to do certain things to make sure the team is at its peak every four years. Sabbaticals have become a huge part of their planning.
"Guys will take a break, or play a short stint in France or Japan, and come back to New Zealand camp raring to go. The benefits have been pretty obvious. They're one of the most dominant sporting teams in the world."
Despite the loss in Brisbane, the All Blacks still look set to mark eight years atop of the World Rugby rankings, sitting on 93.83 points.
England remain in second spot on 90.14 but don't have a chance to close the gap until they face 10th ranked Argentina next month.
The Wallabies are in third despite their first win over the All Blacks since August 2015.