It is not as uncommon as you may think, armour breakdown along the route or at a junction is possibly why the earth is high, legally if it still is the same the DNO do not have to supply an earth and it is down to the electrician to provide a suitable earth when needed, however given this was the failure of an existing earth already provided I would be notifying the DNO about the situation.
Your part in from here changes, you need to ensure that the installation is not unsafe and RCD operation is not to be relied on here, you may have to rod the property on a temp' or permanent basis depending on what the DNO decides to do, the last few occasions I have come across this they had to convert the street to TNC or PME.
I haven't done domestic for 20yrs so others more up to date may say different and it may even be regionally different but the common factor here is you don't leave a unsafe installation and a minimum you take measures to make it safe if you intend to leave it energised.