It was a typically frenetic session around the compact Symmons layout as drivers got their first taste of super soft rubber at the circuit.
Initially it was Shane van Gisbergen that set the pace, a 50.880s on his first run proving tough to chase down until the final third of the session.
With five minutes to go Cam Waters and Mark Winterbottom traded fastest times in the mid-50s bracket as the benchmark neared the practice record set by van Gisbergen last year.
It was the Kiwi himself who was first to lower the record with a 50.421s right at the flag.
However Davison then popped up with a 50.345s to go seven-hundredths clear of van Gisbergen.
"Good start," said Davison. "It's a first time for all of us on a super soft tyre, but it was a really productive session for us.
"[The tyre] just had a bit more side bite, front and rear, so I didn't feel a huge balance shift. All in all, it was comfortable. It feels good.
"You've got to push hard, we're tipping it hard into [Turn] 2 and where we're braking for the hairpin on this tyres is pretty intense. You've got to be very, very accurate with your braking."
Tickford teammates Waters and James Courtney ended up third and fourth, two-tenths off the pace, followed by Anton De Pasquale.
Andre Heimgartner was a consistent figure near the top of the times during the session and ended up sixth ahead of series leader Chaz Mostert.
Todd Hazelwood was eighth, Winterbottom slipped back to ninth while Broc Feeney was 10th in his first ever session at the Symmons Plains circuit.
