Neighbours is reportedly being axed after nearly four decades on screen.

The iconic Aussie soap, which started in 1985, will end this August, according to The Sun.

A source told the outlet: ‘The cast and crew in Melbourne haven’t been told about the decision. They will be devastated. Neighbours is an institution people grew up with.’

They added: ‘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.

It will air its final episode in August 3 years short of its 40th Anniversary