The wave speed of a pressure wave is depends on the speed of sound in water, about 2000 ft/sec, different pipe materails may slow it down some, but not much, the effect of pipe material on surge is the ability of the pipe to absorb some of the magnitude of the wave such as thin wall PVC and steel will change volume to act like a small surge vessel, this effect is also minor, Ductile Iron and Concrete (prestressed or not) should be considered as stiff.
rule of thumb for stiff pipes 50 psi for ever 1 ft/sec in instanious change of flow, this value can be reduced to 40 or 45 for steel and PVC.
Hydrae