Officers were called to a flat in Pelham Street at 11.59pm on Monday (19 July) following a report that a man had been stabbed.
The victim – a 20-year-old man – suffered a chest injury and has been taken to hospital where he remains in a serious condition.
An 18-year-old local man was swiftly arrested on suspicion of attempted murder and causing grievous bodily harm with intent. He remains in custody for questioning.
Detective Inspector Simon Morgan said: “We are carrying out fast-time enquiries to establish the circumstances of what has taken place.
“Understandably, this incident may cause concern to the local community and residents can expect to see a visible police presence while our work at the scene is ongoing.
“It is believed that the victim and suspect may be known to each other and there is nothing to suggest any threat to the wider community at this stage.
“Thank you to local residents for your patience and understanding as our work in the area continues.
“Anyone with information, or who witnessed anything that may assist with our investigation, is urged to report it to us online or by calling 101, quoting 1715 of 19/07.”