How often do you get relocated to a different RAF station and is settling down in one location possible for an engineering officer in the RAF?
You'll move jobs about every 2 years.
I know a lot of people who bought houses in Lincolnshire, given the number of bases around there, so a reasonable possibility of being in that area on a regular basis.
I was an engineer officer and bought a house, which I rented to a friend for a while. However, when they moved out I mostly had jobs that meant I could get home on a regular basis, particularly with shift work, and the house insurance stayed valid. Luckily nice neighbours kept an eye on the place day-to-day, and when I deployed my mum had my car and family visited the house.
As has been advised, you will be posted every 2-4 years and you're not necessarily guaranteed to get a station/posting that is local to home. You can give a preference and it will be looked at, but it will be down to operational requirements at the time and where the RAF needs your skillset to be etc.
It might be that you could be double toured somewhere, if you have a specific knowledge base or it's required, for example, but you can't gurantee that. You could have a posting at Waddington, then the next at Brize Norton etc.