Fancy attic’s rare in trendy property (14)
I believe the answer is:
'property' is the definition.
(I know that characteristic is a type of property)
'fancy attic's rare in trendy' is the wordplay.
'fancy' indicates an anagram.
'in' indicates putting letters inside.
'trendy' becomes 'chic' (I've seen this before).
'atticsrare' is an anagram of 'aracterist'.
'aracterist' placed within 'chic' is 'CHARACTERISTIC'.
(Other definitions for characteristic that I've seen before include "Distinctive" , "Typical (of a person or thing)" , "Typical of a particular person" , "Trait" , "Feature, quality" .)