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If you're looking for the cheapest pint this New Year's Eve, head to Leeds, while Birmingham is your best bet for the most affordable bed for the night.

With people all over the UK getting ready to don their party gear for the most celebrated night of the year, it pays to do your research for the best overall experience.

And it's Birmingham that comes out as the cheapest for the action packed night of beers, club entry, taxi journey and hotel room stay, averaging at £111.38 per person.

The most expensive for the same thrills is Edinburgh, costing on average £308.10.  

Of all the capital cities across the British Isles, Edinburgh steals the show when it comes to pubs per square mile, according to research from hotel bookings site, Hotel Direct.

Looking to bust some well-publicised myths, the low-cost accommodation specialist has been looking into a number of criteria to determine the best place to party this New Year's Eve; average cost of a hotel room, Average cost of a pint, average taxi fare per mile, average club entry, pubs per square mile, whether or not there are there fireworks, and if they are free.

London's New Year celebrations are always spectacular, but a room for the night once the party has finished doesn't come cheap

Among other findings, Hotel Direct found that the Scottish capital boasts 104 pubs per square mile, as compared to Dublin's 55. Cardiff trails with just 39.

Hotel Direct also compared some other party city heavyweights; Birmingham, Manchester and Leeds. Leeds triumphed at the beer pumps, averaging out at £2.40, with Birmingham close on its tails at £2.58. 

Even London, though renowned for high prices, turns out cheaper than many of its counterparts (most notably Dublin), coming in at £3.68 a pint as compared to the Irish capital's £4.41.

Edinburgh's New Year celebrations topped the charts in terms of expense - the full package could cost around £310

That said, the expense of the UK capital was plain to see in the £7.30 average charged by taxi companies per mile. And while public transport may be free between 11.45pm and 4.30am, the £10 entry fee for fireworks (the only city to charge) and highest average club entry of £32 reaffirmed London's reputation as a pricey micro-economy.

Hotel Direct have also contributed their own hotel room prices, where Birmingham stands proud as the cheapest place for a hotel room, averaging at £82 for a room over New Year's Eve 2014, in comparison to Edinburgh's £283 per night price tag.

Other factors for comparison included the average cost of club entry and propensity of fireworks. Of all the cities compared, Hotel Direct found that it was just Belfast that had lost its spark, with no official council-run fireworks event this New Year's Eve. 

Revellers celebrating New Year in Cardiff - but they might be disappointed that the Welsh capital has the least number of pubs per square mile from the research

Hotel Direct MD, Mark Wilson, said: 'We're all for encouraging people to have a great time at New Year but have found in the past that the majority of our bookings have come in for destinations outside the British Isles, such as Paris and New York. 

'However, we wanted to showcase the wide variety of events happening this side of the Channel and instigate a bit of inter-city rivalry.' 

'We were really interested to see that certain myths, such as Dublin having the most pubs per square mile, could be so easily busted. I was also surprised that in a climate of cuts, the majority of the cities all offered free fireworks.'