Stade du Haze, Flers, France
Kick-Off 17:00 BST
West Ham striker Frank Nouble was on target twice for the Young Lions and Arsenal youngster Tom Cruise also scored, as England were forced to hold on late on in the game.
England boasted a strong lineup including Tottenham Hotspur trio Dean Parrett, John Bostock and Steven Caulker, as well as Nouble, Cruise and Aston Villa man Nathan Delfouneso.
Austria were on top early on, but Nouble punished them for a defensive error by Emir Dilaver after just 13 minutes to put Noel Blake's side in front.
Nouble struck again just before the half-hour mark as he shot home from a tight angle, before Parrett and David Alaba both struck the crossbar with free kicks as the half drew to a close.
Alaba had to wait only six minutes after the interval to claw Austria back into the game though with a curled shot, but the deficit was restored to two when Cruise struck from inside the Austrian penalty area just two minutes later.
Gernot Trauner gave Austria hope with just less than 20 minutes of normal time remaining, but England held on partly thanks to goalkeeper Declan Rudd, who denied Alaba to earn a vital win.