Prospect Vale is a small suburb of Greater Launceston and is within the Meander Valley Council's area.It contains two schools, Prospect High School (Public) and a private Catholic school, St. Patricks College.Prospect Vale also has a small shopping centre, Prospect Vale Marketplace, containing a WoolworthsSupermarket and several small privately owned and franchised businesses. A small industrial park lies within its boundaries.Sporting grounds include the St Patrick's Old Collegians Football Club Oval, who compete in the Northern Tasmania Football Association.