At approximately 4.45 pm police received a report that a terraced property in Monagh Drive was on fire.
The two female occupants were able to escape without any injuries.
The house has been completed gutted.
Detective Sergeant Doherty said: “Police are treating this incident as arson.
“It is extremely fortunate that the Fire Service were quickly on the scene, as the fire could have easily spread to adjoining properties causing further damage and distress.
“I would appeal to anyone who noticed any suspicious persons or vehicles in the area to contact detectives at Musgrave on the non-emergency number 101, quoting reference 847 29/10/18.
“Alternatively, information can also be provided to the independent charity Crimestoppers on 0800 555 111, which is 100% anonymous and gives people the power to speak up and stop crime.”