In the last few years, the notion of yeismo has been approached from different perspectives; one of them is Sociolinguistics, the field in which the contribution of the present work is embedded. The aim of this article is to present the evolution of the phonetic process of delateralization of the phoneme /ʎ/ in favour of /ʝ/ in the use of Spanish by speakers in the bilingual speech community in Valencia and the sorrounding areas. From a traditional perspective, it was claimed that speakers in Valencia maintained the differentiation between the lateral and fricative palatals. However, more recent studies focus on the introduction and expansion of yeismo in particular areas in the Valencian region. For this sociolinguistic study a series of linguistic, stylistic and social factors have been established as independent factors. The study has been complemented with an analysis of perceptual phonetics. The results obtained in the study allow us to specify the stage at which this phenomenon is found in our region (phonematic distinction, yeismo with variation, consolidated yeismo or yeismo rehilado), who the speakers that act as leaders in the process of delateralization are and what the subjective perception speakers have of this phenomenon is. Keywords: Phonetic variation, yeismo, subjective perception, bilingual speech community