Relocating to Newcastle Jan 2015 - help!

Hi hubby and I are relocating to Newcastle in Jan 15 for work based in the city. We jusr returned from spending 3 days in the region looking at property and familiarising ourselves with the suburbs. We are looking fro some local feedback on property around Mereweather, Cooks Hill anh Hamilton East. We are professional coupe with kids that have flown the coup and have a beagle dog. We love to walk run and cycle.

We currently live on Brisbane Bayside - which is Brisbane City. We are near the marina and have a brand new very well appointed home. We have spend many years living in Wollongong and see many similarities between thr 3 cities - except property values. OUCH.

Our relocation is 3-5 years so we feel we would be buying in an overpriced market in these suburbs and be stung when its time to sell. No disrespect, but your property in these suburbs is very expensive for what you get. We dont see lifestyle outside these suburbs. So we ventured up to Nelsons Bay. Is this a popular option? Do many people gravitate towards this area and travel daily to work into Newcastle?

Appreciate any comments.