Now that there are Ubuntu packages, please see this GStreamer 1.0 guide.

Build gstreamer 0.11 and run from ~/gst:

• mkdir ~/gst
  cd ~/gst
  mkdir git
  cd git
  git clone git://anongit.freedesktop.org/gstreamer/gstreamer
  cd gstreamer/
  git checkout 0.11
  ./autogen.sh
  make ERROR_CFLAGS=
  cd ~/gst
  ln -s git/gstreamer/scripts/gst-uninstalled gst-git
  ./gst-git

Build gst-plugins-base:

• cd ~/gst/git
  git clone git://anongit.freedesktop.org/gstreamer/gst-plugins-base
  cd gst-plugins-base
  git checkout 0.11
  ./autogen.sh
  make

Build gst-plugins-good:

• cd ~/gst/git
  git clone git://anongit.freedesktop.org/gstreamer/gst-plugins-good
  cd gst-plugins-good
  git checkout 0.11
  ./autogen.sh
  make