Iconic Aussie soap Neighbours has officially been axed after almost 40 years of Aussie entertainment, securing the show as the longest running drama series on Australian television since its conception in 1985.

In a statement released on the Neighbours Twitter page, it was revealed that the loss of their key UK broadcast partner and an inability to find alternative funding has meant the show can no longer afford production.

“We are so sorry to say that after nearly 37 years and almost 9000 episodes broadcast we have to confirm that Neighbours will cease production in June,” the statement said.

“Following the loss of our key broadcast partner in the UK and despite an extensive search for alternative funding, we simply have no option but to rest the show.

“To our amazing, loyal fans, we know this is a huge disappointment, as it is to all of us on the team.

“We thank you for all of your messages and support and promise to end the show on an incredible high.

“From here on, we are celebrating Neighbours.”

Despite commendable efforts from multiple Neighbours cast members and die-hard fans to ‘save the show’, the announcement has come as disheartening news for both the team and loyal Australian fans of the show.

Fans were quick to comment on the announcement, expressing their heartache at the news.

Popular Australian singer and actress, Kylie Minogue, took to Twitter last night, March 3, to post a touching tribute to her time on the show.

The decision came as a surprise to many, as the residents of Ramsay Street still currently attracts 1.5 million UK viewers everyday and when Scott Robinson (Jason Donovan) married Charlene (Kylie Minogue) in 1987, 20 million Brits tuned in to watch the iconic couples big day.

After the announcement of the shows axe in the UK, Many fans took to social media to express their sadness over the news, with one even making a petition to save the loved TV programme, using the hashtag #saveneighbours to spread awareness.

A number of Neighbours cast members shot to fame after starring in the show, with names like Jason Donovan, Liam Hemsworth, Russel Crowe and Margot Robbie having made their debut careers on the popular drama series.

According to Channel 5, the cancellation of the show will mean funding can be directed towards original UK dramas.

Production of the show is set to cease in June, 2022.