This is the 9767th most frequent German word.
neu
New.
Here, 'neu' (new) is used as an adjective describing the noun 'Fahrrad' (bicycle), indicating its condition as brand-new.
Ich habe ein neues Fahrrad gekauft.
I bought a new bicycle.
'Neu' is used in combination with 'gebautes' (built) to form a compound adjective, describing the state of the house as recently constructed.
Wir ziehen in ein neu gebautes Haus.
We are moving into a newly built house.
In this case, 'neu' is used as an adjective with 'alles' (everything) to express the sense of things being unfamiliar or different after the change.