It has always been a time to celebrate with your closest friends and families.
But it seems revellers are shunning the biggest public events that are being staged around the country to see in the New Year at home.
About 40 million adults across the UK are expected to welcome 2017 by having a “big night in”, according to a report published today.
A total of 78 per cent of people surveyed for Post Office Home Insurance are planning to spend New Year’s Eve at their home or at the property of a friend or family member, equating to 40 million people across the country.
Some will be heading off to a house party, hosting one themselves, or spending a cosy night in with their partner. But nearly one in five people surveyed expect to see in the New Year on their own.
Overall, the average spend on New Year’s Eve celebrations is expected to be £54 per person – the same as last year.
The biggest spenders are 18 to 34-year-olds, who expect to lay out an average of £69 each. Meanwhile, 11 per cent of people do not plan to spend anything to celebrate seeing in 2017.
Looking across the country, revellers in London expect to spend the most on the big night, at £88 per person on average. People in Southampton were found to be expecting to spend the least, at £34 per person.
In Yorkshire and the Humber, 61 per cent of adults plan a big night in, with the typical spend at £57.
However, staying in to see in 2017 is not necessarily cheaper generally than going out. Those looking to host a party expect to spend £111 on average – while those planning to go out to a pub, restaurant or nightclub expect to spend slightly less typically, at £107.
With more than one in 10 party hosts experiencing damage to their home at a New Year party last year, the real cost of staying in could be significantly higher than heading out, the Post Office warned. The average cost of the various breakages set party hosts back an additional £71.
The most common accidents last New Year’s Eve were food or drink ending up on the carpet, broken crockery, and damaged furniture or technology, the research found.
Rob Clarkson, managing director at Post Office Money Insurance, said: “New Year’s Eve 2017 will see 40 million people across the UK opting for a big night in, rather than planning a night out for when the clock strikes midnight.
“While some are choosing a stress-free night in with their partner, others are opting for a less quiet affair by hosting friends and family.
“However, celebrating at home isn’t without its pitfalls. Our research has shown damage can be significantly more than your average night out would cost.
“Anyone considering hosting a party should be sure that they are properly covered for accidental damage to avoid starting 2017 facing a hefty repair bill.”
More than 2,000 people took part in the survey.