Will I lose weight at 1700cals? Is this amount too high?

We can't tell you how long it'll take to lose weight. Have you checked out any of the sites about TDEE and BMR? If so, they should give you an idea of what you need to eat to lose weight and at what pace. My fav is the Scooby.http://scoobysworkshop.com/calorie-calculator/

I've been working out regularly and eating more calories than you and losing about 1/2 lb per week. And I weight less and am a bit shorter than you too.

I love this one! http://iifym.com/iifym-calculator/

Honestly though, it depends on your body type and activity level. A guy friend of mine has to eat 3,000 cals a day to keep his weight where it's at (He's a little pudgy but works a physically demanding job), where as a friend of mine has to eat about 1,700 to MAINTAIN, not lose. She's also 5'2" and is only a little active, whereas I aim to eat 1,700 to lose.

Keep an open mind. Give it a couple weeks, not a couple days.

Editing to address your concerns about feeling hungry.

Eat more protein and whole grains. Things like white bread don't fill you up as well as say, whole grain might, has less nutrients, and often has the same or more amount of calories than white bread. Just eating less doesn't always work - you have to adjust your diet to make your body feel more at home with the changes.

Try having an egg, Greek yogurt, or even a protein shake (though I prefer to eat my calories, not drink them, personally) to help you feel fuller with each meal. Anything with protein is good! Most meats and nuts should help with the feeling of hunger. Also, sometimes late night eating is just put into our mind because our body is tired and trying to help you feel good. Eating stimulates dopamine release, which is essentially your brain saying "Awww yeah, life's good!", but eating doesn't release as much dopamine as, say, exercise! Try doing some calisthenics, or even distract yourself for fifteen minutes if you feel hungry. If you still feel hungry after you've kept yourself busy for fifteen minutes, have a healthy, high protein snack.

My calorie allowance is 1800, I seem to stay around 1500. Gives me plenty of room to breathe and not panic.