This has been a issue for the longest time. There is still no way to do this without the cumbersome method you have suggested. I have no idea why there isn’t a keyboard shortcut for this- it really is a big oversight.
Thanks for confirming, in that case I'll stick with the onscreen keyboard - at least I'm not £300 poorer!
I really don't understand why this hasn't been addressed before - I use dictation extensively on my Mac and while iOS dictation is almost as good it makes no sense why Apple would create a keyboard for text entry and overlook dictation!