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One of Young Hollywood's hottest couples has called it quits.

Bella Thorne and Gregg Sulkin announced Monday that they have mutually decided to break up after one year of dating. "After much thought and soul-searching, we have made the difficult decision to end our relationship," the actors told E! News in a joint statement. "We will always love each other and have a deep respect for one another, as we have each grown to be better people because of our time together."

When a fan expressed dismay over the couple's breakup via Twitter, Thorne said not worry. "Things just didn't end up working the way we had hoped," the Shake It Up actress tweeted. "But I'll always love the bub."

People first reported the news of the couple's breakup.

Sulkin and Thorne started out as a friends, so it's no surprise that they'll continue to be pals post-split. Before they became an item last summer, the couple had known each other for over six years. "Getting to know Gregg has been great. Our families are close," Thorne told Teen Vogue in July 2015. "It's hard because in this business, every boy my age wants to go out all the time and party! I'm much more of a homebody and so is Gregg. He just wants to stay in and watch Netflix." Indeed, the couple often documented their happy (and quiet) home life via social media. In the spring of 2016, Thorne, 18, and Sulkin, 24, bought a house together—a major milestone for any couple.

Bella Thorne, 2015 Teen Choice Awards, Gregg Sulkin

Jason Merritt/Getty Images

"We remodeled the house, the whole entire thing from head to toe. We worked really well together on everything, on the color scheme and it's great because we have very different ideas," Thorne, a former Disney Channel star, told AOL in June. "I am really good at the details and he's really good at the mechanics of everything. I don't know what those two walls look like knocked down; I have no idea. I just know what color looks good in this room."

Alas, it was not meant to be. In their joint statement to E! News Monday, the actors said, "Our schedules made seeing each other difficult, and we decided that for now this would be best."

Sulkin has been busy developing MTV's F-Unemployed in Los Angeles, while Thorne spent the summer shooting an ensemble drama film, The Death and Life of John F. Donovan, in Montreal.

Asked whether she'll keep the house and the kittens, Thorne tweeted, "I get the babies."

Sulkin, meanwhile, gave "thanks" to two fans who tweeted their support.