Vic Libs slip back into lead in Caulfield

The Liberal Party has nudged back in front of Labor in the blue-ribbon seat of Caulfield as election vote counting nears completion.

Counting is still underway in John Pesutto's blue ribbon Liberal seat of Hawthorn. (AAP)

The battle for the safe blue-ribbon seat of Caulfield continues as the Liberal Party's David Southwick has edged back into the lead following last weekend's Victorian election.

Mr Southwick was ahead of Labor's Sorina Grasso by 338 votes after counting finished on Saturday - a major change since Friday when he fell behind by 118 votes.

Shadow treasurer and potential contender for opposition leader John Pesutto remains behind his Labor rival, John Ormond Kennedy, by 164 votes.

Meanwhile, the Greens have claimed the seat of Brunswick with Tim Read 514 votes ahead of Labor.

Winning Brunswick means the Greens will hold three lower house seats in the Victorian Parliament, as the party did previously.

It was Tim Read's second attempt at the seat and brings Labor's 104-year hold on the electorate to an end.

"The margin has now grown wide enough in the count that I think it's safe to call it for the Greens," he announced on Saturday afternoon.

"I was a little depressed at the beginning of (last) Saturday night but the counts just improved progressively with what Bob Brown used to call the bushwalker vote."

Anticipating strong competition from the Greens, Labor MP Jane Garrett decided to leave the lower house electorate and instead vie for a safer upper house seat, leaving Ms O'Connor to defend the party's record.

The result follows disappointment for the Greens, after Lidia Thorpe lost the Northcote electorate she won in a by-election last year.

While the party retained Melbourne and looks set to keep Prahran - Sam Hibbins is ahead by 5845 votes - it's looking like they will lose an upper house spot.

Greens leader Samantha Ratnam remains upbeat as counting continues, but reiterated calls for reforms to the voting system that is "distorting democracy" and seeing individuals with significant votes dislodged by those with smaller numbers.

"It's important to look at our statewide vote which has ben resilient and has held despite a huge swing to the Labor Party ... we're within a per cent of where we were last time," she said.

Liberal Heidi Victoria, who has held the seat of Bayswater for 12 years, had slipped 258 votes behind Labor's Jackson Taylor.

Labor is also clearing the once-safe Liberal seat of Nepean by 1,614 votes.

National-turned-independent Russell Northe looks set to retain Morwell, ahead of Labor by 1,434 votes.