The four compass points and their elemental correspondences - from a Melbourne/East Coast perspective.
On Northern Hemisphere compasses, Fire is South - but in Melbourne the hottest parts of the country (the deserts, the tropics) and the Equator are North of us. The hot winds that blow into Victoria are also northerlies. North is the logical choice for Fire from Melbourne's perspective.
East - Water
In the Northern Hemisphere, Water is West - in Melbourne, the biggest body of water close to us is the Pacific Ocean, to our East. So, therefore, Water should be East.
South - Air
On Northern Hemisphere compasses, Air is East - here in Melbourne, the sea breeze that sometimes cools our evenings blows in off Port Phillip Bay, to the South. So, South should be Air.
West - Earth
On Northern Hemisphere compasses, Earth is North - in Melbourne, the vast majority of our continent is to the West of us. So, Earth should be associated with the West.