Thousands are expected to flock to the variety of events on offer at the city's pubs and clubs, while others have opted for the more casual house-party alternative.

Revellers at The Area Hotel will "go Gaga into 2012" with a Lady-Gaga themed party.

Hotel manager Jason Torresan came up with the theme after searching for something glitzy and glamorous enough to befit New Year's Eve.

"I really wanted to do a theme and then I thought of Lady Gaga," Mr Torresan said.

"She's just everything at the moment."

Staff will be dressed in wacky Gaga-inspired attire and the best dressed guest will win a $1000 gift pack.

DJs Static, Bones and Nimos will be spinning tunes in the main bar and beer garden for an expected 500 partygoers from 9pm until the wee hours.

For those wanting a more low-key approach to welcome the new year, all venues are offering their usual meals.

Many will feature live bands for people who want to kick up their heels and dance the night away.

While the Exies and Leagues clubs have put on themed events in the past, both have opted out this year and will have live bands instead.