Cryptic crossword clue
Area of London is posh now, having evicted odd characters 4

The most common and most likely answer to this crossword clue is the 4 letter word SOHO

I've seen this crossword clue in Financial Times
S
O
H
O


Buddy explains!

The straight part
We know that "Area of London" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case area of london = soho.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does SOHO mean?

SOHO interjection
  1. Ho; halloo; a word used in calling from a distant place.

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