Long-running Australian soap Neighbours is to be axed in the UK by Channel 5.

The show, which also airs on RTÉ2, will no longer be broadcast on the channel from this September after talks with Fremantle Australia to keep Neighbours on air failed.

Neighbours was first shown in the UK on BBC in 1985 before moving to Channel 5 in 2008 and has been a springboard for success for Kylie Minogue, Guy Pearce, Liam Hemsworth, Jason Donovan, Alan Dale and Margot Robbie.

"Neighbours will no longer air on Channel 5 beyond this summer," a spokesperson said.

"It's been a much-loved part of our schedule for more than a decade, and we’d like to thank the cast, Fremantle and all of the production team for their fantastic work on this iconic series.

"We’d also of course like to thank the fans for their loyal support of Neighbours across the years.

"We recognise that there will be disappointment about this decision, however our current focus is on increasing our investment in original UK drama, which has strong appeal for our viewers."

According to reports, the soap costs too much to film, compared to how much it brings in from advertising.

"Channel 5 pay Fremantle Australia many millions of pounds every year and, sadly, there’s a shortfall of about £5million in what it brings back in through advertising," a source told The Sun.

"There’s a lot of disbelief and sadness among those who know it’s struggling."

"If Neighbours does come to an end, produces are reportedly planning to make sure it goes out with a bang - three years before the soap’s milestone 40-year anniversary.