This spot is at the confluence of the Williams River coming from under the bridge and the Hunter River flowing directly towards you. They join here and depart stage left as the Hunter River flowing down to the sea at Newcastle.
The rivers here are tidal - so at times they will appear to be flowing the wrong way :-)
This stretch of the river is popular with prawn trawlers, with the season usually starting at the beginning of November. You may be able to see the trawlers moored a little further down the river.
Behind you the grassy rise is the levee bank that generally protects Raymond Terrace during flood periods - though in the April 2015 Super Storm water was flowing over the levee. How high the water gets here depends on where and when the major rain fall occurs as this effects when each river rises and how much. Flood waters can take several days to reach this point.
A great spot to watch the sunset.