I've noticed this bright "star" too, towards the south around midnight - 1 a.m., and figured out it must be Jupiter, as follows:
First of all, it's too bright to be a star - much brighter even than Sirius which is the brightest star in the sky. And in any case (someone correct me if I'm wrong) I think Sirius isn't visible at this time of year. At least, I think the constellation of Orion, which is near Sirius, isn't visible now. Moreover, stars twinkle, and our mystery object doesn't.
So, ruling out stars and UFOs, the best bet is that it's a planet. Now, of the planets visible to the naked eye, only three achieve that kind of brightness: Mars, Venus and Jupiter. Mars is easily identifiable by its pinkish-orange colour, and this object is white, so that rules Mars out. Venus viewed from Earth is never seen too far away from th e Sun, i.e. in the west or south-west after sunset, or in the east or south-east before sunrise. This object is in the south around midnight, so it can't be Venus. That leaves only one possibility - Jupiter.