There is no actual code requirement on the height of the supply valves but I think you will find 18" to 24" above the floor to be a more convenient height. This will keep the valves a bit more accessible when things are stored under the sink and it permits the use of shorter supply tubes from the valves to the sink faucetts.
The drain stub out should be at 18". (The tailpiece from the base of the sink to the input of the trap may not exceed 12" vertical.)
In regard to water hammer, I would certainly follow your inspectors advice for two very distinctive reasons:
1. All water supply systems are required to have water hammer arrestors. Formerly we installed whole two whole house water hammer arrestors by intalling a vertical stub about 18" to 20" with a cap on top at a convenient high point in the system. Often the convenient point was directly behind the lavatory supply stub outs. The codes now require additional water hammer arrestors be installed in the near proximity of all fast acting valves such as toilet fill valves, dishwasher supply lines, Ice maker supply lines, washing machine supply lines and any solenoid operated valves such as found on heating systems or lawn irrigation systems.
2. The second, and in this case, perhaps the most important reason to install the water hammer arrestors as suggested is because making a point to follow an inspectors suggestion goes a long way towards establishing a good working relationship with your inspector. Considering that you are building your own home and doing your own plumbing making a few points with the inspector will go a long way towards having him explain any problems you may encounter rather than write a red tag.
Quite often when i need to work in a different community and I am not familiar with the inspector I grab a couple cups of coffee and a box of donuts and head for the inspectors office to introduce myself. I then discuss some of the points of code that would allow me options and ask the inspector which option he or she would prefer to see when they come on the job. This establishes from the beginning that I do work to code, but more than that, i respect the authority of the inspector to make the final descision.
Here is an illustration of a method to make the water hammer arrestors as suggested by your inspector.