Located between Lisburn Road and the railway, the name of this street may allude to Wilkie Collins' detective novel 'The Moonstone' (1868). Nearby on Lisburn Road was Craig Fernie Terrace, the name apparently taken from another Wilkie Collins novel, 'Man And Wife' (1870). However, this can only be a tentative suggestion as the neighbourhood also includes Capstone Street and Larkstone Street, which are not obviously part of a literary theme.
Application of the owner Mr E Stringer three new streets on his property off Lisburn Road Larkstone Street, Capstone Street and Moonstone Street. Minutes, TIC, 28th September 1898.